Retail sales fell 0.6% in November from the previous month, more than expected, as consumers pulled back on spending even as inflation shows signs of easing.
The U.S. Census Bureau, part of the Department of Commerce, reported that despite month-over-month decline, retail sales of $689.4 billion in November were 6.5% higher than November 2021.
Total sales for the period of September through November 2022 were 7.7% higher than the same period a year ago, the agency said.
Sales at food service and drinking establishments in November were up 14.1% over November 2021, and gas stations were up 16.2% over last year.
