Retail Sales Defy Expectations, Rebound in November

Retail sales in the US unexpectedly rose by 0.3% in November, surpassing expectations for a decline, indicating a strong start to the holiday season. Excluding autos, sales increased by 0.2%, while excluding autos and gas, sales rose by 0.6%. Despite a decline in gas station sales, other sectors such as bars and restaurants, sporting goods stores, hobby stores, book and music stores, and online retailers saw gains. Additionally, initial claims for unemployment insurance dropped to 202,000, the lowest since mid-October.