👉 U.S. retail sales beat expectations in November.

U.S. retail sales rose more than expected in November amid a pickup in auto purchases, consistent with the economy’s strong underlying momentum heading into the end of the year.

Estimates ranged from a 0.1% decline to a 1.0% jump. A resilient labor market characterized by historically low layoffs and strong wage growth is supporting consumer spending and keeping the economic expansion on track.

Strong household finances are also boosting spending, as is savings.