U.S. Economy: Retail Sales, Small-Business Optimism Increase

Sales at U.S. retailers increased more than forecast in November and optimism among small businesses rose to a three-year high, signaling the economy was gaining momentum as the holiday season began.

The 0.8 percent gain in purchases followed a 1.7 percent jump in October that was larger than previously estimated, Commerce Department figures showed today in Washington. The National Federation of Independent Business’s sentiment gauge rose by 1.5 points to 93.2, the highest since December 2007, as more companies projected sales will grow.

Stocks rose and Treasuries fell as the figures confirmed a yearend-sales rebound at retailers like Target Corp. and Macy’s Inc. Even as the world’s largest economy strengthens heading into 2011, high unemployment and the risk of a prolonged drop in prices remain concerns for Federal Reserve policy makers meeting today.

Read Full Article from Bloomberg

- Posted: 2010-12-14 10:40:12

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