U.S. Retail Sales Trail Forecast, Suggesting Drag From Inflation
- Gain of 0.3% in November was weaker than most projections
- Earlier holiday spending may have weighed on latest figure
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U.S. retail sales rose by less than forecast in November, suggesting that consumers are tempering purchases against a backdrop of the fastest inflation in decades.
The value of overall retail purchases increased 0.3%, the smallest advance in four months after a revised 1.8% gain in October, Commerce Department figures showed Wednesday. Excluding gas and motor vehicles, sales climbed 0.2% in November. The figures aren’t adjusted for inflation.