Increased retail sales raises hopes for recovery

U.S. retail sales in November were higher than expected, as consumers increased spending on gasoline and a wide range of other goods, raising hope for a speedy recovery.

Ministry of Commerce reported that last month the level of retail sales increased by 1.3 per cent, it is the greatest advance since August, after increasing sales by 1.1 percent in October. Increased sales marked the second month in a row.

Analysts polled by Reuters had forecast an increase in sales of retailers by 0,7 percent.

Sales in November increased, mainly due to higher costs for gasoline, purchase of machinery and spare parts for them, building materials and electrical appliances.