U.S. retail sales rose in November for the fifth straight month, boosted by the holiday season.
According to U.S. Commerce Dept., sales in November grew 0.8% from October. November was also the profitable month for the departmental stores, who saw sales grew 2.8% in two years.
"This increase, which was well above expectations, shows us that consumers are continuing to ramp up their spending and are happy to head back to stores in the midst of the holiday shopping season that is so critical for retailers," said Jim Baird, chief investment strategist for Plante Moran Financial Advisors in Michigan.
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