November retail sales were higher than expected

Source: Dukascopy Bank SA
Retail sales in November rose by 0.7%, surpassing analysts' predictions of 0.6%, indicating strong consumer spending and a positive start to the holiday shopping season in the U.S. Excluding autos and gas, sales grew by 0.2%, which was below the expected 0.4%. The control group, important for GDP calculations, saw a 0.4% increase, matching expectations.



A strong consumer base is a key driver of the economy, as overall consumer spending boosts demand for goods and services, supporting business growth and job creation. When consumers are confident and willing to spend, it stimulates economic activity and helps maintain a healthy economic cycle.
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Fri, 20 Dec 2024 11:12:43 GMT

The retail sales numbers continue to hurt GBP/USD

On December 20th, the Office for National Statistics reported on the UK's monthly retail sales. Retail sales volumes rose by 0.2% in November 2024, following a 0.7% drop in October 2024. Supermarkets and non-food stores saw growth, but this was partly offset by a decline in clothing sales. Black Friday, which took place on November 29, 2024, was outside the

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