U.S. Retail Sales Rise, Beat Forecast on Electronics Gains

[Purveyor]

Source: Bloomberg

Retail sales rose more than projected in October as Americans snapped up Apple Inc. (AAPL) iPhones and demand for automobiles improved, giving the world’s largest economy a boost entering the final quarter of 2011.

The 0.5 percent gain followed a 1.1 percent increase for September, Commerce Department figures showed today in Washington. The median forecast of 81 economists surveyed by Bloomberg News was a rise of 0.3 percent. Purchases of electronics jumped by the most in two years.

Consumer spending, the biggest part of the economy, needs to keep growing to bolster the expansion as the European credit crisis threatens to slow sales overseas. Nonetheless, retailers like Macy’s Inc. (M) and Kohl’s Corp. (KSS) plan to use discounts to lure shoppers during the holiday season as unemployment hovers around 9 percent and wage gains fail to keep up with inflation.

“Households continue to spend at a pace that can keep the U.S. economy comfortably out of recession,” said Eric Green, chief market economist at TD Securities in New York. “These numbers give me more confidence that retailers’ expectations of stronger sales growth this holiday season will come true.”

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Read more: http://www.bloomberg.com/news/2011-11-15/u-s-retail-sales-rise-more-than-forecast-on-electronics-autos.html

[HopeHoops]

1. Did that include condom sales?

[slackmaster]

2. No, but I heard that anal lube is hot right now

:argh:

[HopeHoops]

3. Only in Leesburg, VA

Google "Santorum".

[bhikkhu]

4. A boost is good...

Every little bit contributes to the possibility of weakening the (r) stranglehold on congress, and legislation that could help move us along toward better equality.

[lbrtbell]

5. It's probably OWS'ers replacing gadgets that cops destroyed - n/t

[alp227]

6. US retail sales rise in October

Source: Financial Times

US retail sales rose broadly in October ahead of next week’s Black Friday sales, the busiest shopping day of the year. Meanwhile, the rise in producer prices slowed, a welcome sign for retailers.

Beating economists’ expectations, sales, excluding motor vehicles, were up 0.6 per cent from September and by more than 7 per cent compared with the same period last year, commerce department data released on Tuesday showed.

Strong recoveries in electronics, food and beverage, and building retailers led the increase, while furniture and department stores lagged behind.

The figures bode well for consumption growth, said Paul Dales, US economist at Capital Economics.

Read more: http://www.ft.com/cms/s/0/71f4063e-0f9a-11e1-88cc-00144feabdc0.html

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