Chart Of The Week    December 14 2023

Goldilocks? Or The Two Bears?

The November US retail sales release for November delivered a positive signal about consumer spending. Overall retail sales unexpectedly increased by 0.3% m/m, surprising expectations of a 0.1% m/m decline. The details of the report were also favorable. Eight of the 13 sectors experienced month-over-month growth. And the retail sales control group – a more precise measure of consumer spending which excludes gasoline stations, food services, auto dealers and building materials stores – rose by 0.4% m/m, beating expectations of a 0.2% m/m increase.