- US retail sales grew less than expected in November, rising 0.2% compared to the 0.5% estimate from economists surveyed by Bloomberg.
- The lagging sales data signals slower economic growth than hoped for in the fourth-quarter, as the US-China trade war also pulled the US manufacturing sector further into a recession last month.
- November’s soft retail trend could also be a result of this year’s late Thanksgiving, JPMorgan Chase economist Daniel Silver said in a Thursday note. The timing “could have pushed some holiday shopping from November to December,” he wrote.
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