U.S. retail sales rose 0.3% in November compared to the previous month, the Commerce Department said Thursday, despite the Dow Jones estimate that sales would decline by 0.1%.Â
The 0.3% estimated increase in U.S. retail and food service sales outpaced inflation from October to November, which was 0.1%. The retail sales are also up 4.1% when compared to the same time last year, the department said, which is still above the inflation rate of 3.1% from November 2022 to November 2023.
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Retail sales did not meet expectations and the number of job openings declined in states around the country, newly released federal data show.Â
The U.S. Census Bureau released data Wednesday showing retail sales remained unchanged for the month of July, despite expectations of a 0.1% increase. A drop in gas prices and auto sales helped fuel the decrease.
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American’s spending slowed in February amid surging inflation and gas prices, the U.S. Census Bureau announced Wednesday.
Retail sales grew 0.3% in February, a significant dip from January’s 4.9% monthly increase, the Census Bureau reported Wednesday. January’s spending increase marked the largest jump since March 2021 after Americans received the final $1,400 government stimulus check.
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