US RETAIL SALES INCREASE SOLIDLY IN NOVEMBER

U.S. retail sales increased more than expected in November as motor vehicle purchases rebounded and households boosted spending elsewhere, suggesting the economy largely maintained its robust pace of growth in the fourth quarter.

Economists, however, worried that the strong retail sales growth reported ​by the Commerce Department on Wednesday continued to be driven by higher-income households, with lower-income consumers disproportionately impacted by higher prices for basic commodities like food because of ‌President Donald Trump's sweeping tariffs on imports.

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