FOR IMMEDIATE RELEASE
Monday, November 15, 2010
CONTACT OFFICE OF PUBLIC AFFAIRS
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.”