October Retail Sales Advance More Than Forecast

[WI_DEM]

U.S. debt pared gains as a report showed retail sales rose more than forecast in October, reducing concern the sustainability of the economic recovery is in question.

The 0.5 percent retail sales 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.

Manufacturing in the New York region unexpectedly expanded in November, as measures of shipments and the employee workweek improved. The New York Fed Bank’s general economic index rose to 0.6, the first positive reading since May, from minus 8.5 in October.

http://www.bloomberg.com/news/2011-11-15/treasuries-pare-gains-as-october-retail-sales-advance-more-than-forecast.html