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U.S. Retail Sales Jump 0.7% in Nov. as Consumers Become More Complacent

December 12, 2013 11:18 AM EST
U.S. retail sales rose by the most in several months as consumers felt better about the economy and ramped holiday spending in response.

The U.S. Department of Commerce said retail sales gained 0.7 percent in November from October. It was the best rise for the metric since last June.

Sales improved 4.7 percent from November 2012.

October's data was revised higher from 0.4 percent to 0.6 percent.

Retail trade sales were up 0.6 percent from October 2013, and 4.6 percent above last year. Auto and other motor vehicle dealers were up 10.9 percent from November of 2012 and nonstore retailers were up 9.4 percent from last year.

Better news might push the Fed to start tapering its $85 billion-per-month bond-buying program. While the Fed has indicated it plans to take action in the coming months, there has been no definitive hint on a time frame for the taper. A meeting is slated to be held next Tuesday and Wednesday.

The SPDR S&P Retail ETF (NYSE: XRT) has moved into positive territory Thursday while other retailers are largely mixed along with the broader markets.


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