By Jeffry Bartash
WASHINGTON (MarketWatch) - Retail spending in the U.S. tapered off in November, with sales rising 0.2% following a sharper 0.6% increase in October, the Commerce Department reported Tuesday. Sales excluding the volatile auto sector also rose 0.2% last month. Economists surveyed by MarketWatch expected retail sales to rise by 0.5% overall, or by 0.4% excluding the auto sector. In October, retail sales were revised up to a 0.6% increase from an initially reported gain of 0.5%. Purchases by consumers account for as much as 70% of U.S. growth, so the slower increase in retail sales in November suggests the economy won't grow quite as fast in the fourth quarter as forecasters were predicting.
