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Statement from Commerce Secretary Gary Locke on Retail Sales in October 2010

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Monday, November 15, 2010

The Commerce Department’s U.S. Census Bureau today released retail sales data for October 2010. Retail sales rose 1.2 percent, exceeding private-sector expectations of a 0.7-percent advance and growing at the strongest rate since March 2010. This is the fourth consecutive month of strong growth in retail sales. Motor vehicle sales increased a strong 5.0 percent. Sales excluding automotive dealers increased 0.4 percent, comparable to private-sector expectations of a 0.4-percent gain.

“Today’s retail sales data continue to show improving consumer confidence in the economic recovery,” Locke said. “Over the past month, we have seen a series of positive economic reports, including new car sales, manufacturing and employment. As we approach the holiday season, private-sector forecasts show that U.S. retailers will see a boost in sales. While the data and private-sector expectations are encouraging, we realize there's still more work to do to help put people back to work in good-paying jobs.”