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US retail sales post highest level in eight months in Nov

by ChemOrbis Editorial Team -
  • 12/12/2014 (12:08)
According to data compiled by the US Commerce Department, US retail sales rose 0.7% in November to post the highest level seen in eight months. Economists’ initial estimates called for an increase of 0.4% in a survey conducted by Bloomberg.

The increases in the country’s retail sales were attributed to lower fuel prices, the peak season for holiday shopping as well as higher wages and employment. The country’s unemployment rate stood at the lowest levels seen since the 2008-2010 recession in November, according to data from the Bureau of Labor Statistics.
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