U.S. retail sales rise
Retail sales in the U.S. jumped 4.1 percent last month over October 2013 and inched upward by 0.3 percent from September, the Commerce Department reported Friday.
The jump from the previous month, excluding automobile sales, was slightly ahead of market expectations as the nation heads into the holiday shopping season, according to data from Yahoo Finance. With the addition of autos, the jump was in line with expectations.
The numbers were seasonally adjusted.
The year-over-year numbers revealed more confidence by consumers in purchasing big-ticket items, as sales of motor vehicles and parts rose 7.6 percent from October 2013, while sales of building materials and garden equipment jumped 6.4 percent, the Commerce Department reported. Business at restaurants also rose 6.8 percent.
One notable year-over-year drop was gasoline stations, which saw a 4 percent plunge in sales as gasoline prices have fallen around 10 percent. The latest survey by AAA Southern New England said the average price of a gallon of self-serve regular unleaded gas in Massachusetts was $2.96, down 30 cents since mid-October.
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