The start of the holiday season saw retail sales rising a modest .3% from October.

Context: The modest rise shows that shoppers have likely changed priorities in the face of pricier food and supply shortages.

It could also show that consumers bought gifts earlier this year.

Expectations were .9% so this was a big miss.

What this means: Consumer demand is actually strong, despite the weak month-to-month showing.

From November 2020 compared to November 2021 retail sales rose 18.2%.

Throwing a barrier to increased savings and purchasing power of consumers is prices rising 6.8% couple with supply chain issues and shortages.

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