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US consumers spent less than expected coming into the start of the holiday shopping season, indicating reduced economic growth. Retail sales came in at just 0.2% growth for November compared to 0.5% expected, while October sales were revised slightly higher.

The number of Americans filing applications for unemployment benefits rose above more than a two-year high last week. The week ended December 7 saw 252,000 new claims, well above expectations. The data may have been skewed due to seasonal volatility following the Thanksgiving Day holiday.

November saw no change in producer price inflation with reduced costs for services offsetting gains in other areas like gasoline and food. While consumer prices rose in November, producer price inflation was unexpectedly soft. Prices saw no growth following a 0.4% gain the month before.

US consumer inflation remains quite low, although last month saw gains in the cost of gas, rent, and health care. With tame inflation throughout 2019, consumer inflation is now at a yearly high. The consumer price index (CPI) rose 0.3%, slightly above expectations of 0.2%.

US consumer sentiment was measured at 99.2 on the latest University of Michigan consumer sentiment index, an increase from 96.8. The result beat expectations, indicating an improvement in consumer’s confidence in their buying ability coming into the holiday season.

The November report from the Labor Department saw 266,000 new jobs added vs. just 180,000 expected. The labor market felt the influx of workers returning from  the recently ended strike at General Motors, boosting figures. Unemployment dropped from 3.6% to 3.5%, beating expectations of a flat reading.