October’s retail sales jumped 1.2 percent over September just as America heads into the holiday buying season. The increase, the most in seven months, is being hailed as a sign that the American consumer is slowly gaining confidence on recent stock gains and sluggish employment gains.
“We expect the holiday shopping season to really ramp up in November,†said Guy Lebas, chief fixed-income strategist at Janney Montgomery Scott LLC in Philadelphia. “The breadth of discounting†and steady income gains are “providing some support,†he said.
Source: Bloomberg
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