11 December 2009, 18:11  U.S. retail sales +0,7%

Sales at U.S. retailers rose more than expected in November as consumers stepped up spending on gasoline and a wide range of other goods, data showed on Friday, raising hopes of a self-sustaining economic recovery. The Commerce Department said total retail sales increased 1.3 percent last month, the largest advance since August, after rising 1.1 percent in October. It was the second straight monthly gain. Analysts polled by Reuters had forecast retail sales gaining 0.7 percent last month. Overall sales in November were boosted by strong receipts from gasoline stations, increased purchases of motor vehicles and parts, building materials and electronic goods among others. "The numbers were a pleasant surprise. Consumers are starting to spend a little more freely than they have been and that is going to be an important source of sustainable growth," said David Resler, chief economist at Nomura Securities International in New York. U.S. stock index futures added to gains, while U.S. Treasury debt prices slipped on the stronger than expected data. The U.S. dollar rose sharply against the yen and euro.

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