November 16, 2011 |
Retail sales rose more than expected in October as Americans snapped up new Apple iPhones and demand for automobiles improved, giving the U.S. economy a boost entering the final quarter of 2011. The 0.5% gain in October from the previous month followed a 1.1% increase for September, Commerce Department figures showed Tuesday. Economists expected a rise of 0.3% in a Bloomberg survey. Purchases of electronics jumped the most in two years. Consumer spending, the biggest part of the economy, needs to keep growing to bolster the expansion as the European credit crisis threatens to slow sales overseas.
August 14, 2012 |
Major U.S. stock indexes edged higher after the federal government reported an uptick last month in consumer spending, a major driver of the economy. The Dow Jones industrial average was up 26 points, or 0.2%, to 13,196 shortly after the opening bell on Wall Street. The broader Standard & Poor's 500 index gained 3 points, or 0.2%, to 1,407. The Nasdaq was up 7 points, or 0.2%, to 3,029. Consumer spending increased in July, the U.S. Census Bureau reported. U.S. retail and food-services sales increased 0.8% last month from June, the agency said.
April 15, 2009 |
Wall Street shifted into reverse Tuesday after a surprisingly weak retail sales report deflated somewhat the market's optimism about the economy. The poor sales data, combined with a sharp drop in wholesale prices, overshadowed better-than-expected earnings reports from Johnson & Johnson and Goldman Sachs Group, leading the Dow Jones industrial average down 137.63 points, or 1.7% to 7,920.18. Broader measures also lost ground after three days of gains. The Standard & Poor's 500 index slumped 17.
January 6, 2011 |
Many top U.S. retailers missed Wall Street's expectations for December sales, hurt by a post-Christmas blizzard on the East Coast and shoppers returning to their cautious ways after flocking to stores after Thanksgiving. Retailers ranging from department store operator Macy's Inc and discounter Target Corp to teen clothing store American Eagle Outfitters were among those whose results fell far short of forecasts. "The turbulence is here to stay," said David Bassuk, a managing director at consulting firm AlixPartners.
April 16, 2012 |
WASHINGTON -- Forget high gas prices and stagnant incomes. American consumers are spending like the good times are back. Retail sales in March far exceeded analysts' forecasts, growing at a strong 0.8% pace after similarly robust gains in the prior two months, the Census Bureau reported Monday. "Consumers shot the lights out in the first quarter," said Chris Rupkey, chief financial economist at Bank of Tokyo-Mitsubishi in New York, in a note to clients. Stocks rose in early trading on the news, but there were some caveats.
May 13, 2013 |
Spring's arrival late in April gave retail sales a light boost as Americans emerged from hibernation to spend on cars, gardening goods and building supplies. From March to April, sales rose a slight 0.1% after declining a revised 0.5% from February to March, according to the Commerce Department. Wall Street had expected a 0.3% slide. The dissipation of the bitter weather that had kept many consumers cooped up at home, coupled with higher home prices, the better-than-expected job market and the record stock performance, helped the sales figures jump 3.7% compared with April 2012.