U.S. Retail Chains Report a Robust November

November retail sales blew by analyst estimates, posting one of the biggest increases in three years.

The results released Thursday reinforced reports from Black Friday weekend showing consumers shopped, spent and are buying non-necessities again.

Sales at stores open at least a year — a crucial indicator known as same-store sales — rose an average of 6 percent, according to Thomson Reuters, well above the 2.6 percent that analysts had expected. That was the biggest increase since 2007 except for a 9.2 percent rise in March of this year.

Added to the report earlier this week that showed consumer confidence at its highest level in five months, it suggested more spending might be on the way.

Read Full Article from New York Times

- Posted: 2010-12-02 10:49:55

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