Wednesday, November 15, 2006

Retailers Have High Hopes For Holiday Sales

U.S. Consumer-Spending Data Bolster Hopes for Holiday Sales
By MARK WHITEHOUSENovember 15, 2006; Page A2, The Wall Street Journal

American consumers maintained their spending in October, leading economists to hold out hope that robust holiday sales will help insulate the U.S. economy from a sharp downturn in housing.
Excluding gas stations, which were hurt by lower fuel prices, sales at food and retail establishments rose to a seasonally adjusted $332 billion in October, up 0.4% from September and 6.5% from a year earlier, the Commerce Department said.
Higher spending at restaurants and drugstores helped to offset declines in sales of housing-related goods, such as building materials and furniture...read more: here