WASHINGTON—Total retail sales rose 0.2% in November, with sales within the control group increasing by 0.1%.
"Solid job growth will continue to drive moderate retail sales growth into the medium-term, although wage growth is slowing,” said NAFCU Chief Economist and Vice President of Research in a new NAFCU Macro Data Flash report. “Growth remains weak in housing-related categories as spending has not followed increased home sales. Trade tensions are an unpredictable risk, destined to change weekly and cause some uncertainty."
Year-over-year growth in retail sales was 3.3% in November, up from 3.2% the previous month. Control group sales increased by 3.5% from a year ago.
Among the major retail segments, five of the 13 sales categories showed month-over-month declines, with personal care stores and clothing stores seeing the sharpest drops, Long said.