In the delayed November report, retail sales rose a solid +0.6%, topping the +0.5% median forecast and rebounding from a downwardly revised -0.1% October reading. A bounce in auto sales and enthusiastic holiday purchases helped drive the overall gain.

Ten of 13 categories logged increases in November, with vehicle sales climbing +0.6% after falling -0.2% in October. The month-to-month volatility in autos is attributed to the expiration of the EV tax credit in September. When the volatile auto category is excluded, sales still rose a respectable +0.5%.

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