U.S. Retail Sales Climbed in December for Sixth Month

[Godhumor]

Source: Bloomberg

Sales at U.S. retailers rose in December for a sixth consecutive month, capping the biggest one- year gain in more than a decade.

Purchases increased 0.6 percent after climbing 0.8 percent in November, Commerce Department figures showed today in Washington. The median forecast of economists surveyed by Bloomberg News called for a 0.8 percent rise. Sales advanced 6.7 percent in 2010, the most since an 8.2 percent jump in 1999.

Analysts this month boosted 2011 forecasts for household spending, which accounts for 70 percent of the economy, as tax cuts and an improving job market put more money in Americans’ pockets. Ford Motor Co. and Dollar General Corp. are among companies planning to increase payrolls this year, pointing to gains in employment that may accelerate the recovery.

Consumers are “feeling that the worst is definitely behind them,” said David Semmens, a U.S. economist at Standard Chartered Bank in New York who accurately forecast the gain in sales. “The first quarter should definitely receive a boost in consumer spending from the fiscal stimulus and the improvement in hiring.”



Read more: http://noir.bloomberg.com/apps/news?pid=20601068&sid=abzaomDldyVg

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Hopefully these "improvements in hiring" in 2011 actually materialize. Anecdotally, I know I have been seeing a lot more job opportunities the past few months here in Buffalo.

[fasttense]

1. The improvement in hiring???

"In the week ending Jan. 8, the advance figure for seasonally adjusted initial claims was 445,000, an increase of 35,000 from the previous week's revised figure of 410,000."

I guess you can say there is an improvement, if you want to speak in opposites.

[bossy22]

3. those flucuate

its still improving from last year. this stuff takes time

[Godhumor]

4. 1st week of the new year is traditionally the highest week for initial claims in the entire year

And, has already been said, these reports tend to fluctuate period to peiod.

Moreover, employment is a lagging indicator. Improvement in spending, demand for more services and goods, etc. will lead to more jobs as well.

[bossy22]

2. this is a good sign

we should not expect the economy to completely turn around over night but the majority of economic news is positive and thats a good trend. I know some DUers will come back unhappy with this news because "20 million jobs werent added in one month and the unemployment rate went down to 0%"

[WCIL]

5. Our store broke sales records this holiday season

Unfortunately, we are also breaking records with returns this year. It is as if cooler heads prevailed after the holidays were over and nervous people brought back much of what they bought. We did keep more of our seasonal help then usual, though.