The Commerce Department reported retail spending in the U.S. rose slightly in November with a 0.2% increase followed by a sharper 0.6% increase in October. Analysts had expected a 0.6% increase in November. Sales excluding the volatile auto sector also rose 0.2% last month. Purchases by consumers account for as much as 70% of U.S. growth suggesting the economy will not grow as fast in the fourth quarter as forecasters were predicting. The November gain was the smallest since a similar rise in June. The figures come as Federal Reserve policy makers meet today on interest rates.
