U.S. retail sales were down 1.1 percent in November compared to October, hitting approximately $546.5 billion, according to the monthly U.S. Census Bureau report released on Wednesday (Dec. 16).
Total sales for September 2020 through November 2020 were up 5.2 percent from the same period in 2019.
According to the report, “the September 2020 to October 2020 percent change was revised from up 0.3 percent to down 0.1 percent. Retail trade sales were down 0.8 percent from October 2020, but 7.1 percent above last year. Nonstore retailers were up 29.2 percent from November 2019, while food services and drinking places were down 17.2 percent from last year.”
The December 2020 Advance Monthly Retail report is set for release on Jan. 15.
Consumer spending in the report dated Oct. 16 showed a rise of 1.9 percent in September over August, to $549.3 billion. The results were ahead of expectations of a 70 basis point rise.
The U.S. Census Bureau reported that retail sales in August were up 60 basis points over July, but showing a slowdown from the 90 basis point gains seen in July. Furniture was up 2.1 percent on a month-to-month basis, while clothing and accessory spending was up 2.9 percent month over month. Electronics spending was up 80 basis points.
U.S. retail sales rose 0.3 percent in October to $553.3 billion, missing forecasts but still up for the sixth consecutive month, according to the monthly U.S. Census Bureau report released on Tuesday (Nov. 17).
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More