In general, the stock market demonstrates weakness despite better-than-expected US economic reports and news. The US unemployment rate dropped to 8.6% in November from 9% in October. It is a lowest level in more than 2.5 years, since March 2009. October US retail sales were 7.2% higher than the same month a year ago. Furthermore, the retail sales have been raising for 5 straight months.
Improvement in consumer spending was one of the reasons why the economy grew at the best of the year annual rate of 2.5% in the 3rd quarter. US auto sales increased in 14% in November. Also during the 4-day Thanksgiving weekend consumer spending reached a record 16% in total sales from a year ago. Although some of these numbers might be reevaluated and revised in the future, in overall, they indicate improvements.
Showing posts with label consumer spending. Show all posts
Showing posts with label consumer spending. Show all posts
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