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US retail sales rise less than expected in Dec

by ChemOrbis Editorial Team -
  • 16/01/2017 (16:02)
According to the US Commerce Department, overall retail sales in the US slightly increased by 0.6% on a monthly basis in December after they were up by 0.2% in November. The increase fell slightly below the market expectations which called for an increase of 0.7%. On a yearly basis, retail sales climbed by 4.1% in December.

The increase in retail sales was driven by the rise in auto sales, which was up by 2.4% after posting a decrease of 0.2% in November.

The reports showed that excluding auto sales, retail sales were also up by 0.2% in December month-on-month, which again missed the economists’ expectations of a growth of 0.5%.
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