Retail sales data in November were surprisingly strong, showing a month-over-month growth of 0.3%, despite consensus expectations of a 0.2% decrease. The October figure was revised downward from -0.1% to -0.2%. Additionally, sales of the control group of goods increased by 0.4%, surpassing expectations of 0.15%. The growth rate for the previous month was also revised down to 0% from 0.2%.

Overall, the release reflects robust consumer activity and signals ongoing economic growth in the fourth quarter. In light of this data, the Federal Reserve Bank of Atlanta has raised its GDP growth forecast from 2.4% to 2.6% quarter-over-quarter.

The baseline scenario from analysts at Freedom Finance Global anticipates a 1.5% economic growth in this quarter. Sustained demand could serve as an argument for the Federal Reserve to maintain interest rates at their current level for a longer period. However, it's important to consider the seasonal factor of pre-holiday purchases, which supported sales in November. #EconomicGrowth #RetailSales #FederalReserve #GDPForecast