Dive Brief:
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November retail sales jumped .7%, an unexpected increase from October that was spread over many categories and was the biggest growth since March, according to the U.S. Commerce Department’s monthly retail sales report.
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Building materials and garden equipment, furniture and home furnishings, department stores, sporting goods, hobby, book and music stores, and health and personal care saw especially healthy sales.
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Many economists had expected closer to a .4% rise.
Dive Insight:
Economic reports from earlier this month that showed stronger employment numbers in both jobs and wages were a fresh sign that the economy might be gaining a new strength, and the resulting consumer confidence is reflected in November’s sales numbers. That could be helped by falling gas prices too, which are expected to stay relatively low for a while.