http://www.bloomberg.com/news/2012-12-13/retail-sales-increase-as-americans-snap-up-autos-electronics.html
Retail sales in the U.S. rose in November as demand for automobiles rebounded and holiday shoppers snapped up electronics and clothes.
The 0.3 percent gain followed a 0.3 percent decrease in October, Commerce Department figures showed today in Washington. The median forecast of 81 economists surveyed by Bloomberg called for a 0.5 percent rise. The biggest drop in service- station receipts in four years, reflecting lower fuel costs, restrained the gain in total purchases.
Car sales jumped last month to a four-year high, in part because Americans in Sandy’s path replaced damaged vehicles. Federal Reserve policy makers yesterday expanded stimulus in a bid to reduce unemployment and spur the economy as chains such as Macy’s Inc. (M) cut prices to lure customers increasingly concerned about looming tax increases and government cutbacks.
“The details look pretty solid,” said Ryan Sweet, a senior economist at Moody’s Analytics Inc. in West Chester, Pennsylvania. “The consumer is continuing to support the recovery, which is important because identifying the sources of growth is becoming increasingly difficult. The burden is really starting to fall on the consumer.”
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