November retail sales in US exceed expectations amid rising income divergence
Retail sales rose 0.6 percent in November behind a rebound in auto purchases. Data indicates a widening K-shaped gap between high and low income consumers.
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Retail sales in the US 
USincreased 0.6 percent in November, surpassing the 0.4 percent growth consensus forecast by economists. This data, released by the U.S. Commerce Department Census Bureau as it catches up on delayed reports following a 43-day government shutdown, highlights a notable rebound in motor vehicle purchases. While overall spending remains firm, October retail sales were downwardly revised to show a 0.1 percent decline.
USincreased 0.6 percent in November, surpassing the 0.4 percent growth consensus forecast by economists. This data, released by the U.S. Commerce Department Census Bureau as it catches up on delayed reports following a 43-day government shutdown, highlights a notable rebound in motor vehicle purchases. While overall spending remains firm, October retail sales were downwardly revised to show a 0.1 percent decline.The stronger-than-expected figures contribute to a robust outlook for the fourth quarter, with the Atlanta Federal Reserve currently forecasting an annualized GDP growth rate of 5.1 percent. Core retail sales, which exclude volatile categories such as automobiles, gasoline, and food services, increased by 0.4 percent in November. This follow-up to a downwardly revised 0.6 percent gain in October suggests that consumer spending continues to provide a significant foundation for the broader economy.
