Surprise Rise In Retail Sales

Chart Source: CalculatedRiskBlog.com

Retail sales rose 1.3% for the month of November following a 1.1% gain in October, reinforcing consumer confidence in the market. After the GDP rose 2.8% in the 3^rd quarter Analysts forecasted slow growth for the 4^th quarter and half of the 1^st quarter of 2010. Analysts believe that a double digit unemployment, currently at 10% would weaken consumer spending. Data from the 4^th quarter will be a better indicator to forecast next year. Quick break down of sales for November as follows;

Auto Sales –>  +1.6%

Department Store Sales –> +0.7%

Electronic/Appliance Store Sales –> +2.8%

Hardware Store Sales –> +1.5%

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Tags: consumer spending, retail sales

This entry was posted on December 11, 2009 at December 11, 2009 and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed.