Como se combate o populismo? "Com eleições", responde Fukuyama

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8:30am 12/13/05 U.S. RETAIL SALES UP 6.3% YEAR-OVER-YEAR
8:30am 12/13/05 U.S. NOV. GENERAL MERCHANDISE SALES UP 0.1%
8:30am 12/13/05 U.S. NOV. RETAIL SALES EX-AUTOS, EX-GAS UP 0.5%
8:30am 12/13/05 U.S. NOV. RETAIL AUTO SALES UP 2.6%
8:30am 12/13/05 U.S. NOV. GASOLINE STATION SALES DOWN 5.9%
8:30am 12/13/05 U.S. NOV. RETAIL SALES EX-GAS UP 1%
8:30am 12/13/05 U.S. OCT. RETAIL SALES REVISED TO 0.3% GAIN VS -0.1% EARLIER
8:30am 12/13/05 U.S. NOV. RETAIL SALES EX-AUTOS FALL 0.3% VS. -0.1% EXPECTED
8:30am 12/13/05 U.S. NOV. RETAIL SALES UP 0.3% VS. 0.5% EXPECTED

ECONOMIC REPORT: Retail sales rise 0.3% in November; Rebound in autos offsets huge drop in gasoline
By Rex Nutting, MarketWatch
Last Update: 8:59 AM ET Dec. 13, 2005

WASHINGTON (MarketWatch) - U.S. retail sales increased a modest 0.3% for the third straight month in November, as a rebound in auto sales offset a big decline in gasoline, the Commerce Department said Tuesday.

Including the upward revision to October's sales, November's total was actually a bit higher than economists' expectations of a 0.5% increase.

Retail sales increased 6.3% in the past 12 months.

Treasurys pared earlier gains on the mixed report ahead of the expected rate hike by the Federal Reserve.

The retail report is likely to have only a tiny impact on deliberations by the Federal Open Market Committee later Tuesday. The FOMC is expected to boost rates for a 13th straight meeting, to bring the federal funds rate to 4.25%.

In the longer term, however, the strength of consumer spending is critical to the Fed. Along with inflation, the key issue for the Fed in the next few months is whether consumer spending can continue to pace the economy in the face of rising interest rates, higher debt loads and a slowing housing sector.

Auto sales rose 2.6% in November after sinking 1.3% in October. Auto sales are down 2% in the past year.

Excluding autos, retail sales fell 0.3%, the biggest decline in 19 months.

Gasoline sales plummeted 5.9% in November as the pump price fell. It was the biggest drop in gas sales since April 2003. Gas sales are up 16.8% in the past 12 months.

Excluding gasoline, retail sales rose 1%, the largest increase since July.

Retail sales are seasonally adjusted, but are not adjusted for changes in prices.

Excluding both autos and gas, retail sales increased 0.5%, after a 1% gain in October.

Durable goods sales were generally strong. Building materials and hardware sales rose 1.9%. Electronics increased 0.5%. Furniture sales fell 0.3%.

Sales at general merchandise stores were weak, rising 0.1%. Clothing store sales increased 0.2%.

Sales at health care stores jumped 1.1%. Sales at restaurants and bars increased 0.9%.

The weak spots were at leisure-time stores, such as books and hobbies, where sales fell 0.6%. Nonstore retail sales fell 0.2%.