Online retail growth offsets offline growth
Due to the increasing consumer preference for online shopping, major retail chains have been keeping their doors open 24 hours.
The US Department of Commerce released early retail sales estimates for November that show total retail sales increased 6.7% in November. However, sales at non-store retailers increased at more than twice that rate (13.9%).
Meanwhile, The Los Angels Times notes that American consumers spent their money in November at the slowest rate in five months, suggesting that the economy might not grow quite as fast as expected in the fourth quarter.
Sales at US retailers increased a seasonally adjusted 0.2% in November from October, the Commerce Department reported.
Consumers gravitated toward cars and home electronics and spent less at bars, restaurants and grocery stores, government data showed.
The Vancouver Sun says relatively strong consumer spending in recent months has helped the US resist a global slowdown fed by Europe's still menacing debt crisis.
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