US retail sales rose by more than expected in November as shoppers snapped up toldevisions and other electronic goods for the holidays, the Commerce Department said Wednesday.
Retail sales rose 1.0 pct in November, following three weak months. That s the largest increase since July. Economists had expected sales to rise 0.2 pct in the month.
Sales in October fell a revised 0.1 pct, compared with the 0.4 pct fall originally reported.
The rise in November was led by a 2.3 pct rise in sales at gasoline stations and a 4.6 pct increase in sales at electronics and appliance stores, the largest increases since April and January, respectively.
Excluding gasoline sales, retail sales rose a healthy 0.9 pct, the largest increase since January. In October they rose 0.5 pct.
Excluding automobile sales, retail sales in November rose 1.1 pct after falling 0.3 pct in the prior month. That s the largest increase since January. Economists had expected sales excluding autos to rise just 0.3 pct in November.
Excluding both gasoline and autos, retail sales rose 0.9 pct in November, also the largest rise since January.
Auto sales rose 0.9 pct in November after rising 1.0 pct in October.
The figures are not adjusted for inflation.
Retail sales have risen 5.6 pct in the past year.
Sales rose in all categories except furniture stores, which saw a 0.1 pct decline in the month.
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