Retail sales picked up for the 6th straight month in November as sales rose at department and clothing stores. According to the Commerce Department, sales rose 0.2% in November versus 0.6% in October, which was revised higher from the previously reported 0.5%.
However, November missed the consensus of 0.5%. It was also the smallest monthly gain since 0.2% in June.
While consumers ARE out there shopping, there is no indication that a robust buying spree that might spur more job growth is on the way. On the contrary, consumers appear to be cautious and are buying mainly when there are heavy discounts.
