Retail Sales Rebound in September

October 13, 2011  by in UnCategorized   

By Aggregated Content in economic news on October 14, 2011 from http://c.moreover.com/click/here.pl?z5330882035&z=1250249029

Retail sales rebounded for September, offering clues about the state of the U.S. consumer and easing fears of an impending recession.

The Commerce Department said retail sales increased by a better-than-expected 1.1 percent last month, boosted by strong auto purchases. Economists in a Thomson Reuters survey had expected a 0.7 percent rise after a flat reading in August.

Consumer spending accounts for about two thirds of U.S. economic activity, and the retail sales data suggest growth at the end of the third quarter might have been stronger than previously thought, Reuters said.

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