Data from the Commerce Department of the United States showed that retail sales grew by 0.2% in November compared to October. Experts projected a rise of 0.3%. In October, retail sales edged up by unrevised 0.1%.
Therefore, sales climbed to the highest level in four months. Experts say that people spend money saved from low gasoline costs. Gasoline prices in the United States remain at the lowest level since early 2009.
Retail sales excluding gasoline, motor vehicles, and building materials rose by 0.6% in November following 0.2% growth in October. Analysts expected an increase of 0.4%.
Positive figures from the US labor market indicate its recovery thus stimulating growth of household disposable income. In its turn, it leads to increasing spending during holiday sales.
