Retail Sales Post Broad-based Declines in November

Total nominal retail sales and food-services spending fell 0.6 percent in November after increasing 1.3 percent in October. From a year ago, retail sales are up 6.5 percent and remain well above the pre-pandemic trend (see first chart).

Nominal retail sales excluding motor vehicle and parts dealers and gasoline stations – or core retail sales – fell 0.2 percent in November, following an 0.8 percent gain in October. From November 2021 to November 2022, core retail sales are up 6.7 percent. As with total retail sales, core retail sales remain well above the pre-pandemic trend (see first chart).