U.S. Retail Sales Miss Forecasts as Restaurants Decline
- Underlying ‘control group’ also rises by less than expected
- Figures suggest fourth-quarter growth will slow further
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U.S. retail sales missed forecasts calling for an acceleration in November as clothing stores and restaurants posted declines, signaling the economy’s main engine may cool in the fourth quarter by more than previously thought.
The value of overall sales climbed 0.2% after an upwardly revised 0.4% increase the prior month, Commerce Department figures showed Friday. The median estimate in a Bloomberg survey called for a 0.5% increase.