Economy, Retail Sales | featured news

Retail sales were solidly higher in November, the government reported Tuesday, fueled in part by deep discounting on holiday merchandise.

Retail sales in the U.S. climbed more than forecast in September, easing concern that unemployment stuck near a 26-year high will bring the recovery to a halt.

Retail sales are expected to show an increase in August despite weakness in auto sales. Economists surveyed by Thomson Reuters expect retail sales will increase 0.3 percent in August following a 0.4 percent rise in July.

Retail sales fell in June for the second straight month, more evidence that the U.S. economic recovery will slow in the second half of the year.

Abercrombie & Fitch was the biggest surprise of the month wiith a 9% jump in same-store sales, while Nordstrom posted double-digit gains.

Spending fell 1.2%, the biggest dip in eight months. Auto sales were down 1.7%. Retail sales plunged in May by the largest amount in eight months as consumers slashed spending on everything from cars to clothing.

Retail sales soared in March, the government said Wednesday, in the latest sign of improving consumer confidence.

The 0.3 percent increase, the biggest since November, provided hope that the recovery was gaining momentum.

Retail sales posted a better-than-expected increase in January, a welcome development that could mean stronger economic growth in coming months.

Consumers spent more on gasoline and a wide range of other goods, data showed, raising hopes of a self-sustaining economic recovery.