Scoreboard: Retail therapy

The US stockmarket rebounded on strong retail data, while European markets were mixed as Greek shares slid further.

In US economic data, retail sales rose by 0.7 per cent in November (well ahead of expectations of 0.4 per cent). Excluding gasoline, sales lifted by 0.9 per cent. The gains were broad-based and confirmed a lift in discretionary spending. Core retail sales (excluding automobiles, gasoline, building material and food services) lifted by 0.6 per cent. US jobless claims fell by 3,000 to 294,000 in the past week. US import prices fell 1.5 per cent in November driven by a 6.9 per cent slide in oil prices. US business inventories rose 0.2 per cent in October after a 0.3 per cent gain in September.


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