After reporting a sharp increase in U.S. retail sales in the previous month, the Commerce Department released a report on Thursday showing retail sales pulled back by much more than expected in the month of November.
The Commerce Department said retail sales slid by 0.6 percent in November after surging by 1.3 percent in October. Economists had expected retail sales to edge down by 0.1 percent.
Excluding a steep drop in sale by motor vehicle and parts dealers, retail sales slipped by 0.2 percent in November after jumping by 1.2 percent in October. Ex-auto sales were expected to inch up by 0.2 percent.
