US retail sales rose less-than-expected in November, likely offsetting the jump from the previous month, when Americans started their holiday shopping earlier to avoid paying more for goods amid product shortages. .
Retail sales rose 0.3% last month, informed the Commerce Department on Wednesday (15).
The October data was revised upwards and now shows a 1.8% increase instead of the 1.7% increase previously released. This is the fourth consecutive monthly high.
Economists polled by Reuters had expected a 0.8% increase in retail sales in November. Estimates ranged from stability to high of 1.5%.
Many From major retailers From USA reported on meaFrom November an earlier start of year-end shopping.
Trillions of dollars providedFrom by governments around the world to alleviate the Covid-19 pandemic fueled demand for goods, which strained supply chains. Scarcity resulting from the stimulus, ranging from vehicles to furniture and electronics, has driven up prices From products.
Consumer inflation rose 0.8% in November, up 6.8% from the same period last year – the highest level since June 1982.
The modest gain in sales no retail it is unlikely to change the view that the US economy is picking up steam after a third-quarter slowdown triggered by the Delta variant of the coronavirus and rampant product shortages.
The report is released while the Federal Reserve authorities (central bank From USA) prepare to finalize their two-day monetary policy meeting.
The expectation is that the Fed will announce an acceleration in the pace of the gradual reduction of its monthly purchases of bonds, given a scenario of high inflation. an early rise From interest next year is under discussion.
Excluding automobiles, gasoline, building materials and food services, sales no retail retreated 0.1%, after increasing 1.8% in October. The so-called core of sales more closely matches the component From expenses From consumers in Gross Domestic Product (GDP).
Consumer spending, which accounts for more than two-thirds of US economic activity, rose 1.7%, at an annualized rate, in the third quarter. More than halfway through the fourth quarter, consumer spending is up From three months earlier.
Reference: CNN Brasil
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