Retail sales jump 1.2% in October, 4th Straight Month

[babylonsister]

http://money.cnn.com/2010/11/15/news/economy/retail_sales/

Retail sales jump 1.2% in October, 4th Straight Month
By Hibah Yousuf, staff reporter November 15, 2010: 8:44 AM ET


NEW YORK (CNNMoney.com) -- Retail sales rose for a fourth straight month in October, the government reported Monday, signaling that consumers are keeping their wallets open as the holiday shopping period approaches.

Total retail sales rose 1.2% from the previous month to $373.1 billion, compared with September's upwardly revised 0.7% jump, the Commerce Department said. Economists surveyed by Briefing.com were expecting October sales to rise 0.7%. Sales were up 7.3% from a year earlier.

Consumer spending accounts for two-thirds of U.S. economic activity, so retail sales and related reports are closely monitored to gauge the health of the economy.

Sales excluding cars and auto parts rose 0.4% last month, in line with economists' forecasts.

All eyes will remain on the retail sector this week, as a number of companies release third-quarter financial results and issue their forecasts for the period that includes the holiday season.

Discount giants including Wal-Mart (WMT, Fortune 500) and Target (TGT, Fortune 500) are due to report, as well as higher-end department stores including Nordstrom (JWN, Fortune 500) and Saks Incorporated (SKS).

[SidDithers]

1. K&R...nt

Sid

[bigwillq]

2. That's good.

K and R

[WI_DEM]

3. The last couple of months the economic picture has improved in many sectors, too late

for the 2010 elections to help the Dems, but if the trends continue President obama will have a booming economy going into the 2012 election which will help all dems.

[Clio the Leo]

4. kickers! nt