Retail Sales: Online Sales Drive Stronger Than Expected November

Bottom Line: Total retail spending rose sharply more than expected in November with core retail sales jumping nearly 1%, led by sharp gains in "nonstore" retailers as consumers increased their online purchases ahead of the holiday season. Core Sales ex-gasoline stations and ex-building materials during October and November were moderately above their Q3 averages, suggesting that real consumer spending will continue to add positively to Q4 GDP. Retail SalesCore Retail SalesCore Retail Sales ex Gasoline