After adjusting for seasonal variance, holiday and trading-day differences, and price changes, the advance estimates for November retail and food services sales in the United States came to $724.6 billion.
This represented a 0.7% increase (±0.5%) compared to the previous month and a 3.8% rise (±0.5%) from November 2023. Sales from September through November 2024 were up 2.9% (±0.5%) compared to the same period in the previous year. The change from September to October 2024 was revised upward from 0.4% (±0.5%) to 0.5% (±0.1%). Retail trade sales increased by 0.9% (±0.5%) from October 2024 and were up 4.1% (±0.5%) from the previous year. Sales of motor vehicles and parts dealers rose by 6.5% (±1.8%) compared to last year, while nonstore retailers saw a significant 9.8% increase (±1.4%) from November 2023.
Global markets remained focused on shifting Middle East developments and monetary policy expectations, with reports of progress toward a Strait of Hormuz shipping agreement influencing sentiment.
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Weak Jobs Data Hits Dollar as Hormuz Risks Persist (10 – 14 August)Global markets entered the week as investors reassessed the Federal Reserve's outlook after a surprisingly weak US employment report signaled further deterioration in labor market conditions. The Dollar Index fell toward a two-month low, while gold and silver held onto strong weekly gains as expectations for a September Fed rate hike dropped sharply. At the same time, uncertainty surrounding the Strait of Hormuz continued to influence oil prices and global inflation expectations, with Iran and Oman reporting progress toward a transit agreement but no broader resolution yet reached.
Detail Weak Jobs Data Supports Metals and Currencies (08.10.2026)Global markets opened the week with the dollar under pressure after unexpectedly weak U.S. employment data reduced expectations for a September Federal Reserve rate hike.
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