Entries in October (2)


October Retail Sales Rise More Than Forecast

Photo Courtesy - ABC News(WASHINGTON) -- Shoppers opened their purses more than expected in October, as retail sales climbed 1.2 percent, the most in seven months. The rise in consumer purchasing was the biggest gain since March, the U.S. Commerce Department said Monday. The October number was strong compared with the 0.7 percent jump most economists were expecting.

Americans are shopping again, which means the sputtering economic recovery is getting a much-needed jolt. Companies are capitalizing on the shopping spirit, offering incentives to get customers to spend. Just this week, Wal-Mart announced it will offer free shipping on some 60,000 items over the holidays.

The retail industry is on the path to hiring the most seasonal workers since 2006. In October alone, stores hired 150,900 workers, according to global outplacement firm Challenger, Gray & Christmas, Inc. That's three times more jobs than last year at this time, when just 47,600 holiday jobs were added.

Copyright 2010 ABC News Radio


Weak Holiday Spending in Store for Retailers 

Photo Courtesy - Getty Images(PRINCETON, NJ) -- Retailers can expect another anemic holiday shopping season, according to a new Gallup poll. While the poll shows consumer spending is up in October from September, spending remains far below the 2008 recessionary spending range of $81 to $114.

American’s self-reported spending in stores, restaurants, gas stations and online averaged $62 per day in the first four weeks of October. That figure is up from $59 in September, but is below the $63 figure from August.

Although spending remains in the new normal range of $59 to $72 that was set for 2009-2010, year-over-year comparisons and continued high unemployment rates suggest a weak Christmas spending season.

Copyright 2010 ABC News Radio

ABC News Radio