Retail sales rise 0.3% in Nov. but shoppers show resilience
Americans slowed their spending in November from October but they showed another month of resilience against higher prices and shortages in stores
NEW YORK — Americans slowed their spending in November from October, but continued shopping despite higher prices and shortages in stores.
Retail sales rose a modest seasonally adjusted 0.3% in November from the month before when sales rose a revised 1.8%, the U.S. Commerce Department said Wednesday, a bit weaker than most economists had expected.
Online sales were unchanged last month, while sales at department stores fell 5.4%.
Sales did increase even with retailers facing a host of challenges. Many have had to sharply raise pay to find and keep workers, thereby increasing their labor costs. And some are scrambling amid overwhelmed supply chains to keep their shelves stocked. And shoppers are also dealing with higher costs.
