November retail sales data from Commerce and NRF bodes well for strong holiday activity

Retail sales data for the month of November showed both sequential and annual gains, according to data issued by the United States Department of Commerce and the National Retail Federation (NRF).

Commerce reported that November retail sales at $449.3 billion were up 0.7 percent compared to October and up 5.1 percent compared to November 2013, and total retail sales from September through November are up 4.7 percent annually.

The NRF said that November retail sales, which exclude automobiles, gas stations, and restaurants, were up 0.6 percent seasonally-adjusted month-to-month over October and increased 3.2 percent annually on an unadjusted basis. NRF officials said that November’s gains “were consistent” with its 4.1 percent growth forecast for holiday retail sales, which it defines as the months of November and December, to $616.9 billion, which is above the actual 3.1 percent for 2013.

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