October’s retail sales jumped 1.2 percent over September just as America heads into the holiday buying season. The increase, the most in seven months, is being hailed as a sign that the American consumer is slowly gaining confidence on recent stock gains and sluggish employment gains.
Ã¢â‚¬Å“We expect the holiday shopping season to really ramp up in November,Ã¢â‚¬Â said Guy Lebas, chief fixed-income strategist at Janney Montgomery Scott LLC in Philadelphia. Ã¢â‚¬Å“The breadth of discountingÃ¢â‚¬Â and steady income gains are Ã¢â‚¬Å“providing some support,Ã¢â‚¬Â he said.
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