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- Ryan Wang, an economist at HSBC Securities USA Inc.
U.S. month on month retail sales grew less than expected in November, said the Census Bureau on Tuesday. Total retail sales rose 0.2 percent the previous month after increasing 0.6 percent in October. Economists expected the reading to advance 0.6 percent.
"Sales are growing, but they just aren't accelerating," said Ryan Wang, an economist at HSBC Securities USA Inc. in New York. "There have been some real slight hints of improvement in the labor market, but until we get sustained growth in income, spending is going to be moderate."
"It [economic data] is fairly disappointing given that all the evidence was pointing to fairly strong gains during the month," said Millan Mulraine a macro strategist at TD Securities in New York.