Investing.com - Retail sales in the U.S. rose less-than-expected in November, while core retail sales were flat, official data showed on Thursday.
In a report, the U.S. Census Bureau said that retail sales rose by a seasonally adjusted 0.3% in November, disappointing expectations for a 0.5% gain. Retail sales in October fell by 0.3%.
Rising retail sales over time correlate with stronger economic growth, while weaker sales signal a declining economy.
Core retail sales, which exclude automobile sales, were flat for the second consecutive month in November. Analysts had expected core retail sales to decline 0.1% in November.
Core sales correspond most closely with the consumer spending component of the government's gross domestic product report. Consumer spending accounts for as much as 70% of U.S. economic growth.
Following the release of the data, the U.S. dollar held on to losses against the euro, with EUR/USD dipping 0.04% to trade at 1.3068.
Meanwhile, U.S. stock future indices were little changed. The Dow Jones Industrial Average futures pointed to a flat open, S&P 500 futures pointed to a rise of 0.05%, while the Nasdaq 100 futures pointed to a loss of 0.05%.
In a report, the U.S. Census Bureau said that retail sales rose by a seasonally adjusted 0.3% in November, disappointing expectations for a 0.5% gain. Retail sales in October fell by 0.3%.
Rising retail sales over time correlate with stronger economic growth, while weaker sales signal a declining economy.
Core retail sales, which exclude automobile sales, were flat for the second consecutive month in November. Analysts had expected core retail sales to decline 0.1% in November.
Core sales correspond most closely with the consumer spending component of the government's gross domestic product report. Consumer spending accounts for as much as 70% of U.S. economic growth.
Following the release of the data, the U.S. dollar held on to losses against the euro, with EUR/USD dipping 0.04% to trade at 1.3068.
Meanwhile, U.S. stock future indices were little changed. The Dow Jones Industrial Average futures pointed to a flat open, S&P 500 futures pointed to a rise of 0.05%, while the Nasdaq 100 futures pointed to a loss of 0.05%.