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Strong Start to Holiday Shopping Season as US Retail Sales Surge
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Retail Sales Surge in November
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US retail sales unexpectedly picked up in November, indicating a solid start to the holiday shopping season. Eight of 13 categories saw increases, led by restaurants and bars, sporting goods stores, and online retailers. The Atlanta Fed raised its GDPNow for fourth-quarter growth to 2.6% from 1.2% on Dec. 7.
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How might the strong retail sales performance impact other sectors of the economy?
How might this positive start to the holiday shopping season affect consumer confidence?
What factors contributed to the unexpected surge in retail sales?
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