Retail sales rises for sixth straight month |
| Los Angeles Times - Dec 13, 2011 |
The start of the crucial holiday shopping season in November helped fuel the sixth straight monthly increase in retail sales. Gift-buying Americans spent more on clothing and electronics, and sales of autos and furniture also rose.
Still, the overall gain was the smallest since June. Consumers pulled back on some purchases unrelated to holiday shopping, such as groceries and building materials.
Retail sales rose 0.2 percent in November, the Commerce Department said Tuesday. That was lower than October's gain, which was revised up to show a 0.6 percent increase.
Even so, more spending on retail goods shows the economy is continuing to grow steadily, if slowly.
The higher sales of furniture and autos suggested that consumers made more big purchases in November. So-called “core” sales, which exclude the volatile categories of autos, gasoline and building materials, rose for an 11th straight month.
Read Full Article from Los Angeles Times
- Posted: 2011-12-13 12:45:50
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