United States retail sales fell more than expected in November, but consumer spending remains supported by a tight labour market, with the number of Americans filing for unemployment benefits decreasing by the most in five months last week.The biggest decrease in retail sales in 11 months reported by the Commerce Department on Thursday was likely payback after sales surged in October as Americans started their holiday shopping early to take advantage of discounts by businesses desperate to clear excess inventory.Still, the weakness in sales suggested higher borrowing costs and the threat of an imminent recession were starting to have an impact on household spending.
Load More
Load More