California Business Minute™

Hi, I am Tim Johnson and welcome to the California Business Minute.

The Commerce Dept reported that advance estimates of U.S. retail and food
services sales for November, adjusted for seasonal variation and holiday
and trading-day differences, but not for price changes, were $399.3 billion,
an increase of 0.2 percent (±0.6% revised) from the previous month and 6.7
percent (±0.7%) above November 2010.

November's number fell short of market expectations. Analysts had called for
a 0.4 percent improvement.

Gasoline sales declined marginally in November. Within the core (excluding
autos and gasoline), gains were mixed but mostly positive.

The strongest component was for electronics & appliance stores which jumped
2.1 percent in November, followed by non-store retailers (up 1.5 percent) and
auto dealers (up 0.5 percent). Also seeing gains were furniture & home
furnishing, clothing & accessory stores, sporting goods & hobby, and general
merchandise.

The largest decline was for miscellaneous store retailers, down 1.2 percent.
Modest decreases also were seen in building materials & garden equipment,
food & beverage, health & personal care, gasoline stations, and food services
& drinking places.

I am Tim Johnson and this has been the California Business Minute.