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Microcap & Penny Stocks : Rat dog micro-cap picks...
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To: Bucky Katt who wrote (43307)12/14/2010 9:14:45 AM
From: Rangle  Read Replies (1) of 48461
 
Strong Start to the Holiday Period as Retail Sales Surge in November

The consumer-led recovery continued to gain traction in November as retail sales rose 0.8% and easily trumped the Briefing.com consensus estimate of 0.5% growth.

Just as importantly, retail sales in October were revised up from 1.2% to 1.7%. Taken together, the fourth quarter is shaping up to be one of the strongest consumption periods since the recovery began.

Excluding the auto sector, sales increased 1.2% and beat expectations (+0.6%).

In general, the report was strong and there is a high probability of upward revisions to the November data next month.

Motor vehicle sales fell 0.8% in November. This was very surprising considering the auto manufacturers reported no change in motor vehicle sales this month. Given the data, auto retail sales should have also been flat unless fleet sales were stronger than normal. Since the manufacturers have been reporting declining fleet sales for the past few months, it is more likely the Census Bureau released poor retail sales estimates. This is not unusual and is typically corrected in the personal income and spending report that will be released next week.

Core retail sales, which exclude the highly volatile building materials, gasoline stations, and motor vehicle dealer sales, increased 0.9% in November. This was the sixth consecutive monthly increase and its strongest gain since August.

The growth in core sales was led by notable increases in clothing stores (2.7%), sporting goods and hobby stores (2.3%), and department stores (2.8%).

Go figure
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