Washington, December 15, 2022, SPA -- U.S. retail sales fell more than expected in November, the government reported Thursday, but consumer spending remains supported by a tight labor market. The U.S. Commerce Department said retail sales fell 0.6 percent last month, the biggest drop since December 2021, after an unrevised 1.3 percent jump in October. Economists expected sales to decline 0.1 percent in November. Sales at auto dealerships dropped 2.3 percent last month as motor vehicles remain in short supply. Sales at gasoline stations declined 0.1 percent, reflecting lower fuel prices. Online retail sales declined 0.9 percent, electronics and appliance store sales fell 1.5 percent, and furniture sales dropped 2.6 percent. Retail sales, which are mostly goods, increased 6.5 percent in the 12 months through November, but consumers have been using savings to fund purchases; the saving rate was at 2.3 percent of after-tax income in October, the lowest since mid-2005. Excluding gasoline, automobiles, building materials, and food services, core retail sales declined 0.2 percent in November, after rising a downwardly revised 0.5 percent the previous month. Core retail sales correspond most closely with the consumer-spending component of gross domestic product. --SPA 20:33 LOCAL TIME 17:33 GMT 0040 www.spa.gov.sa/2410075