{"id":1994,"date":"2024-12-17T15:42:24","date_gmt":"2024-12-17T15:42:24","guid":{"rendered":"https:\/\/otetmarkets.com\/blog\/?p=1994"},"modified":"2024-12-17T15:42:25","modified_gmt":"2024-12-17T15:42:25","slug":"us-retail-sales-show-robust-growth-in-november-2024","status":"publish","type":"post","link":"https:\/\/otetmarkets.com\/blog\/news\/us-retail-sales-show-robust-growth-in-november-2024\/","title":{"rendered":"US Retail Sales Show Robust Growth in November 2024"},"content":{"rendered":"\n<p>Retail sales in the United States rose by 0.7% month-over-month in November 2024, following an upwardly revised 0.5% increase in October. This growth exceeded market expectations of a 0.5% rise, signaling strong consumer spending during the holiday shopping season. The solid performance reflects continued consumer confidence and a willingness to spend despite ongoing economic uncertainties.<\/p>\n\n\n\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped wp-block-gallery-1 is-layout-flex wp-block-gallery-is-layout-flex\">\n<figure class=\"wp-block-image size-large is-style-default\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"481\" data-id=\"1998\" src=\"https:\/\/otetmarkets.com\/blog\/wp-content\/uploads\/2024\/12\/IMG_20241217_184012_175-1024x481.jpg\" alt=\"\" class=\"wp-image-1998\" srcset=\"https:\/\/otetmarkets.com\/blog\/wp-content\/uploads\/2024\/12\/IMG_20241217_184012_175-1024x481.jpg 1024w, https:\/\/otetmarkets.com\/blog\/wp-content\/uploads\/2024\/12\/IMG_20241217_184012_175-300x141.jpg 300w, https:\/\/otetmarkets.com\/blog\/wp-content\/uploads\/2024\/12\/IMG_20241217_184012_175-768x361.jpg 768w, https:\/\/otetmarkets.com\/blog\/wp-content\/uploads\/2024\/12\/IMG_20241217_184012_175.jpg 1280w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n<\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-strong-gains-in-motor-vehicles-and-nonstore-retailers\"><strong>Strong Gains in Motor Vehicles and Nonstore Retailers<\/strong><\/h2>\n\n\n\n<p>The biggest gains in November were seen in sales at motor vehicle and parts dealers, which surged by 2.6%. This was followed by a 1.8% increase in nonstore retailers, a category that includes online shopping. Other sectors also saw positive results, with sporting goods, hobby, musical instrument, and book stores recording a 0.9% rise in sales. Building material and garden equipment supplies dealers saw a 0.4% increase, while furniture and electronics stores experienced modest gains of 0.3%.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-declines-in-several-retail-categories\"><strong>Declines in Several Retail Categories<\/strong><\/h3>\n\n\n\n<p>While some sectors thrived, others experienced a slowdown in sales. Health and personal care stores saw flat sales, while miscellaneous store retailers and food services and drinking places both recorded declines of 3.5% and 0.4%, respectively. Other categories, such as food and beverage stores, clothing, and general merchandise stores, also saw slight decreases in sales, ranging from 0.1% to 0.2%.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-gdp-relevant-sales-increase-by-0-4\"><strong>GDP-Relevant Sales Increase by 0.4%<\/strong><\/h3>\n\n\n\n<p>Excluding categories like food services, auto dealers, building materials stores, and gasoline stations\u2014key components used to calculate GDP\u2014retail sales still saw a healthy increase of 0.4%. This core measure of consumer spending indicates that underlying demand remains strong, providing a positive signal for the broader economy as the year progresses.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Retail sales in the United States rose by 0.7% month-over-month in November 2024, following an upwardly revised 0.5% increase in October. This growth exceeded market expectations of a 0.5% rise, signaling strong consumer spending during the holiday shopping season. The solid performance reflects continued consumer confidence and a willingness to spend despite ongoing economic uncertainties. [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":2001,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,2],"tags":[],"class_list":["post-1994","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-global-economy-news","category-news"],"_links":{"self":[{"href":"https:\/\/otetmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/1994","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/otetmarkets.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/otetmarkets.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/otetmarkets.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/otetmarkets.com\/blog\/wp-json\/wp\/v2\/comments?post=1994"}],"version-history":[{"count":5,"href":"https:\/\/otetmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/1994\/revisions"}],"predecessor-version":[{"id":2002,"href":"https:\/\/otetmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/1994\/revisions\/2002"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/otetmarkets.com\/blog\/wp-json\/wp\/v2\/media\/2001"}],"wp:attachment":[{"href":"https:\/\/otetmarkets.com\/blog\/wp-json\/wp\/v2\/media?parent=1994"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/otetmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=1994"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/otetmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=1994"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}