Consumer spending rebounded in November as holiday shopping season kicked off

• The data topped economists' expectations that saw retail sales declining in November.
• Revised October data was slightly weaker than initially thought: Spending fell by 0.2%, not the originally estimated 0.1% decline.

The big picture: The retail sales data, which is not adjusted for inflation, show consumers upped spending at bars and restaurants, sporting goods and book shops and online retailers.

• Spending at gasoline stations fell by nearly 3%, likely due to falling prices at the pump.
• Excluding sales at gas stations, overall retail sales were even stronger in November: rising by 0.6%.

Of note: Spending also eased at department stores, electronics and appliance shops and other miscellaneous store retailers.

The bottom line: The American consumer continues to surprise to the upside.