Tuesday, November 15, 2011

Retail Sales Strong in October

Retail sales rose 0.5% in October according to a Census Bureau report released this morning. Although this is down from September’s 1.1% growth, it is the second strongest growth since March. Sales excluding autos and gas were stronger than in September, growing 0.7%, the strongest growth since March. Spending growth was strongest in electronics stores and on the internet, indicating consumers are willing to continue purchases for the important holiday season.

Furniture, clothing, and gasoline were the only segments that saw a decline in retail spending. Many of these saw outsize growth in the previous month and merely saw a moderation from that pace.

Read the report.

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