Retail sales jumped 0.7% last month after an upwardly revised 0.5% gain in October, the Commerce Department's Census Bureau said on Tuesday.
Economists polled by Reuters had forecast retail sales, which are mostly goods and are not adjusted for inflation, advancing 0.5% after a previously reported 0.4% rise in October.
Estimates ranged from a 0.1% dip to a 1.0% jump. Labor market resilience, characterized by historically low layoffs and strong wage growth, is underpinning consumer spending and keeping the economic expansion on track.
Strong household balance sheets, reflecting record stock market prices and high home prices, are also driving spending. Household savings remain supportive.
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