U.S. Retail Sales Climb 0.7% in November, Driven by Auto and Online Purchases

Consumer spending shows resilience despite high interest rates, with a strong start to the holiday shopping season boosting economic momentum.

Retail sales rose 0.7% in November, surpassing October's 0.5% increase, with auto sales up 2.6% leading the gains.
Online retail sales grew 1.8%, reflecting robust consumer interest in e-commerce during the holiday season.
Spending on discretionary categories like restaurants and clothing declined, highlighting some consumer caution amid persistent inflation pressures.
Economists project continued economic growth in the fourth quarter, supported by steady wage increases and low unemployment at 4.2%.
The Federal Reserve is expected to announce its third rate cut of the year, but signs of strong consumer demand may temper future reductions.