16.12.202012:39:00UTC+00U.S. Retail Sales Slump Much More Than Expected In November

Retail sales in the U.S. showed a steep drop in the month of November, according to a report released by the Commerce Department on Wednesday.

The Commerce Department said retail sales tumbled by 1.1 percent in November following a revised 0.1 percent dip in October.

Economists had expected retail sales to slip by 0.3 percent compared to the 0.3 percent increase originally reported for the previous month.

Excluding a decrease in sales by motor vehicle and parts dealers, retail sales still fell by 0.9 percent in November. Ex-auto sales were expected to inch up by 0.1 percent.