**MNI: 5 Things We Learned From The November Retail Sales Data>

By Kevin Kastner, Sara Haire and Holly Stokes

     WASHINGTON (MNI) - The following are the key points from the 

November retail sales report from the Commerce Department released 

Thursday: 

     - The November retail sales data were well above expectations, in 

line with the tendency to underestimate sales in November. Combined with 

upward revisions in the previous two months, the data suggest that 

consumption was stronger in 4Q. 

     - November retail sales +0.8% vs +0.3% reading expected and +1.0% 

ex motor vehicle vs +0.7% expected, as motor vehicle sales -0.2%. 

October sales rev up to +0.5% and +0.4% ex motor vehicle. 

     - November sales +0.8% ex. motor vehicle and gas and +0.8% ex auto, 

building materials, gas and food services, suggesting significant 

underlying strength.

     - Gas station sales +2.8% (sales ex. gas +0.6%) and building 

materials +1.2% after a 0.1% dip in October and a 3.1% gain in September 

due to the hurricanes. Food services +0.7% and all other categories were 

higher. 

     - November total sales +9.5% vs 3Q average at an annual rate and 

were +8.0% ex motor vehicles and +5.5% ex autos, building materials, 

gas, and food services, suggesting a very good start for 4Q PCE. 

     ** MNI Washington Bureau: 202-371-2121 ** 

[TOPICS: MAUDS$,M$U$$$,MAUDR$]