US: Retail Sales decline by 0.6% in November vs. -0.1% expected

• Retail Sales in the US fell at a stronger pace than expected in November.
• US Dollar Index stays in positive territory above 104.00 after the data.

Retail Sales in the United States declined by 0.6% on a monthly basis to $689.4 billion in November. This reading followed October's 1.3% increase and came in worse than the market expectation for a contraction of 0.1%. 

"Total sales for the September 2022 through November 2022 period were up 7.7% from the same period a year ago," the publication read. "Retail trade sales were down 0.8% from October 2022, but up 5.4% above last year."

Market reaction

The US Dollar Index retreated from daily highs with the initial reaction and was last seen rising 0.45% on the day at 104.10.