US: Retail Sales rose by 0.3% MoM in November versus 0.8% expected rise
- US Retail Sales rose by 0.3% MoM in November, below expectations.
- The DXY saw a very slight dip, but remains close to recent highs with focus on the Fed policy announcement.
US Retail Sales rose by 0.3% MoM in November, according to data published by the US Census Bureau revealed on Tuesday. That was below market expectations for a MoM rise of 0.8% and marked a substantial deceleration from last month's (upwardly revised from 1.7%) 1.8% MoM gain. That took the YoY rate of headline Retail Sales growth to 18.21% in November.
As with the headline, the MoM pace of Core Retail Sales growth in November also missed expectations, coming in at 0.3% versus forecasts for a growth rate of 1.0%. That also marked a substantial deceleration from October's 1.8% MoM gain. The Retail Control, which correlates more closely to the retail spending component of GDP, was down 0.1% MoM in November versus expectations for a 0.7% rise.
Market Reaction
The DXY saw a very slight dip on the weaker than expected numbers, though has remained close to recent highs in the 96.50 area with focus firmly on the Fed policy announcement later in the session.
Author
Joel Frank
Independent Analyst
Joel Frank is an economics graduate from the University of Birmingham and has worked as a full-time financial market analyst since 2018, specialising in the coverage of how developments in the global economy impact financial asset
