US retail sales rose 0.3 percent in November

Published on NewsOK Modified: December 13, 2012 at 8:43 am •  Published: December 13, 2012
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WASHINGTON (AP) — Americans spent more online in November to start the holiday season and began to replace cars and rebuild in the Northeast after Superstorm Sandy.

U.S. retail sales rose 0.3 percent in November from October, the Commerce Department said Thursday. That offset a 0.3 percent decline in October from September.

The figures were much stronger after factoring lower gas prices. When excluding a large drop in gas station sales, retail sales increased a solid 0.8 percent.

The report offered a mixed signal for the holiday shopping season. Sales that reflect online shopping surged 3 percent — the biggest gain in 13 months. But department store sales tumbled and Americans spent less at stores like Wal-Mart and Target.

Some of the decline may be because of the storm. Still, economists worry that consumers may also be growing more cautious because of looming tax increases set to take effect in January.

Sandy made landfall on Oct. 29 and slowed business activity during the first couple of weeks of November — the start of the busiest shopping period of the year, Retailers can make up to 40 percent of their annual revenue in the final two months of the year.

The November retail sales report largely reflected a rebound from the storm. Auto sales jumped 1.5 percent, as many people sought to replace damaged vehicles. Sales at home improvement stores increased 1.6 percent.

Some figures suggest shoppers regained their enthusiasm for the holidays, perhaps later in the month. Electronic and appliance sales rose 2.5 percent. Furniture sales increased 1 percent.

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