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The U.S. Commerce Department released the retail sales data on Thursday. The U.S. retail sales climbed 0.7% in November, exceeding expectations for a 0.3% increase, after a 0.5% gain in October. October's figure was revised up from a 0.3% rise.
Retail sales excluding automobiles increased 0.5% in November, beating expectations for a 0.1% gain, after a 0.4% gain in October. October's figure was revised up from a 0.3% increase.
These figures showed that consumer spending in the U.S. rose in the fourth quarter after slowing in the second quarter.
The increase was driven by lower gasoline prices and strong job growth. Gasoline prices declined due to falling oil prices.
Sales at clothing retailers climbed 1.2%, while sales at electronics and appliance stores rose 0.9% in November. Sales at auto dealers gained 1.7%.
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