U.S. retail sales post biggest drop in almost a year. Is it a sign of a weakening economy?

The numbers: Sales at U.S. retailers fell 0.6% in November to mark their biggest decline in almost a year, largely because of weak car sales. Higher interest rates and a slowing economy also appeared to play a role.

Retail sales were forecast to decline 0.3% last month, according to economists polled by The Wall Street Journal. Key details: Car and car-parts sales declined 2.3% last month, the largest drop in more than two years. Ongoing shortages of vehicles for sale and rising interest rates curbed purchases in November.Setting aside auto dealers and gas stations, retail sales dipped 0.2% last month. That gives a better picture of retail-sales trends.

Restaurant sales tend to rise when the economy is healthy and Americans feel secure in their jobs. Sales usually soften in more troublesome times. Yet because wages aren’t keeping up with inflation, households have also dipped into their savings to support their spending habits. The savings rate fell in October to 2.3%, the second-lowest rate on record going back to 1959.

Fact 'Every single bear market since 1955 has ended when the Fed lowered interest rates'! Thoughts: The first 3 months of 2023 will tell the tale!

s_rewritten Just the beginning

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Wall Street closes higher after inflation cooled in NovemberStocks closed higher on Wall Street after the government reported that inflation cooled more than expected last month, cementing expectations that the Federal Reserve is about to dial down the size of its interest rate hikes.
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