Solid U.S. retail sales boost economic outlook

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SIGN INREGISTER HOME BUSINESS MARKETS WORLD POLITICS TECH OPINION BREAKINGVIEWS MONEY LIFE PICTURES VIDEO Login or registerLatest from My Wire Solid U.S.S. retail sales boost economic outlook BY LUCIA MUTIKANI WASHINGTON Thu Dec 12, 2013 2:07pm EST 23 COMMENTS inShare 61 Share this Email Print Thanksgiving Day holiday shoppers line up with television sets on discount at the Target retail store in Chicago, Illinois, November 28, 2013.louis vuitton outlet online retail sales boost economic outlook BY LUCIA MUTIKANI WASHINGTON Thu Dec 12, 2013 2:07pm EST 23 COMMENTS inShare 61 Share this Email Print Thanksgiving Day holiday shoppers line up with television sets on discount at the Target retail store in Chicago, Illinois, November 28, 2013. REUTERS-Jeff Haynes 1 OF 2. REUTERS-Jeff Haynes 1 OF 2. Thanksgiving Day holiday shoppers line up with television sets on discount at the Target retail store in Chicago, Illinois, November 28, 2013. Thanksgiving Day holiday shoppers line up with television sets on discount at the Target retail store in Chicago, Illinois, November 28, 2013.[url=http://www.tustininformationcenter.com title=louis vuitton tote]louis vuitton tote[/url] CREDIT: REUTERS/JEFF HAYNES (Reuters) - U. CREDIT: REUTERS/JEFF HAYNES (Reuters) - U.S.louis vuitton outlet onlineS. retail sales rose solidly in November, adding to signs of a strengthening economy that could draw the Federal Reserve closer to reducing the pace of monetary stimulus. retail sales rose solidly in November, adding to signs of a strengthening economy that could draw the Federal Reserve closer to reducing the pace of monetary stimulus. The upbeat picture was clouded somewhat by other data on Thursday showing the biggest jump in a year in first-time claims for jobless benefits. The upbeat picture was clouded somewhat by other data on Thursday showing the biggest jump in a year in first-time claims for jobless benefits. Economists, however, largely dismissed that report as skewed by a late Thanksgiving and other factors. Economists, however, largely dismissed that report as skewed by a late Thanksgiving and other factors. The Commerce Department said retail sales increased 0.louis vuitton neverfull gm The Commerce Department said retail sales increased 0.[url=http://www.tustininformationcenter.com title=louis vuitton tote]louis vuitton tote[/url]7 percent last month as Americans stepped up spending on a wide range of goods from automobiles to electronics.7 percent last month as Americans stepped up spending on a wide range of goods from automobiles to electronics. November\'s increase was the largest in five months and followed a 0. November\'s increase was the largest in five months and followed a 0.6 percent rise in October.6 percent rise in October. \"It should provide more confidence to the Fed that the economic recovery has emerged from the political-induced uncertainties of recent months essentially unscathed and reinforce the expectation for the recent improved performance in the data to be sustained,\" said Millan Mulraine, senior economist at TD Securities in New York.louis vuitton neverfull gm \"It should provide more confidence to the Fed that the economic recovery has emerged from the political-induced uncertainties of recent months essentially unscathed and reinforce the expectation for the recent improved performance in the data to be sustained,\" said Millan Mulraine, senior economist at TD Securities in New York. Economists polled by Reuters had forecast retail sales advancing 0. Economists polled by Reuters had forecast retail sales advancing 0.6 percent last month.6 percent last month.[url=http://www.tustininformationcenter.com title=louis vuitton tote]louis vuitton tote[/url] So-called core sales, which strip out automobiles, food services, gasoline and building materials and correspond most closely with the consumer spending component of gross domestic product, rose 0. So-called core sales, which strip out automobiles, food services, gasoline and building materials and correspond most closely with the consumer spending component of gross domestic product, rose 0.5 percent after gaining 0.louis vuitton tote5 percent after gaining 0.7 percent in October.7 percent in October. The core sales gain was consistent with consumer spending rising at an annualized rate of at least 3. The core sales gain was consistent with consumer spending rising at an annualized rate of at least 3.5 percent in the fourth quarter, economists said.5 percent in the fourth quarter, economists said. That would be a big step-up from the third quarter\'s 1.louis vuitton outlet online That would be a big step-up from the third quarter\'s 1.[url=http://www.tustininformationcenter.com title=louis vuitton outlet online]louis vuitton outlet online[/url]4 percent pace.4 percent pace. \"There are signs of an earlier pick-up in consumption that is also likely to be the heart and soul of a future growth acceleration,\" said Alan Ruskin, head of currency strategy at Deutsche Bank Securities in New York. \"There are signs of an earlier pick-up in consumption that is also likely to be the heart and soul of a future growth acceleration,\" said Alan Ruskin, head of currency strategy at Deutsche Bank Securities in New York. U. U.S.louis vuitton toteS. stocks were trading lower as investors\' attention remained focused on next week\'s Fed policy meeting. stocks were trading lower as investors\' attention remained focused on next week\'s Fed policy meeting. U. U.[url=http://www.tustininformationcenter.com title=louis vuitton tote]louis vuitton tote[/url]S.S. government bond prices fell, while the dollar rose against a basket of currencies.louis vuitton outlet online government bond prices fell, while the dollar rose against a basket of currencies. INVENTORY BUILDING CONTINUES The relatively strong sales last month defied industry expectations of a slow holiday season. INVENTORY BUILDING CONTINUES The relatively strong sales last month defied industry expectations of a slow holiday season. Reports early this month suggested shoppers spent less during the Thanksgiving weekend, the traditional start of the holiday shopping season. Reports early this month suggested shoppers spent less during the Thanksgiving weekend, the traditional start of the holiday shopping season. Middle-income shoppers have been careful in their spending, waiting for the right promotions and in many cases shifting a lot of their spending to big-ticket items like their cars or home repairs and away from items such as clothing. Middle-income shoppers have been careful in their spending, waiting for the right promotions and in many cases shifting a lot of their spending to big-ticket items like their cars or home repairs and away from items such as clothing. Home improvement chains Home Depot and Lowe\'s Inc last quarter reported far better sales gains than chains such as Macy\'s Inc or Target Corp.louis vuitton tote Home improvement chains Home Depot and Lowe\'s Inc last quarter reported far better sales gains than chains such as Macy\'s Inc or Target Corp.[url=http://www.tustininformationcenter.com title=louis vuitton tote]louis vuitton tote[/url] Spending is being supported by solid job gains and steady income increases, and could help shield the economy in the fourth quarter from an expected effort by businesses to reduce inventories that piled up during the July-September quarter. Spending is being supported by solid job gains and steady income increases, and could help shield the economy in the fourth quarter from an expected effort by businesses to reduce inventories that piled up during the July-September quarter. The data prompted economists to raise their fourth-quarter GDP growth estimates by as much as half a percentage point to as high as a 2. The data prompted economists to raise their fourth-quarter GDP growth estimates by as much as half a percentage point to as high as a 2.2 percent annual rate.2 percent annual rate. Economists also said a second report from the Commerce Department suggested businesses were not being as aggressive in selling off inventories as had been expected, which could mean any correction spills into the new year.louis vuitton neverfull gm Economists also said a second report from the Commerce Department suggested businesses were not being as aggressive in selling off inventories as had been expected, which could mean any correction spills into the new year. Inventories increased 0. Inventories increased 0.7 percent in October, the largest gain in nine months, after a 0.7 percent in October, the largest gain in nine months, after a 0.[url=http://www.tustininformationcenter.com title=louis vuitton neverfull gm]louis vuitton neverfull gm[/url]6 percent rise in September.6 percent rise in September. Lower gasoline prices are also helping, though they were a drag on the retail sales figures, which are not adjusted for inflation.louis vuitton neverfull gm Lower gasoline prices are also helping, though they were a drag on the retail sales figures, which are not adjusted for inflation. The firming growth tone was tempered somewhat by a report from the Labor Department that showed initial claims for state unemployment benefits surged 68,000 to a seasonally adjusted 368,000 last week. The firming growth tone was tempered somewhat by a report from the Labor Department that showed initial claims for state unemployment benefits surged 68,000 to a seasonally adjusted 368,000 last week. That was the largest weekly increase since November 2012 and surpassed economists\' expectations for a rise to only 320,000. That was the largest weekly increase since November 2012 and surpassed economists\' expectations for a rise to only 320,000. However, the four-week moving average for new claims, which irons out week-to-week volatility, rose only 6,000, suggesting that a recent strengthening of the jobs market remains intact. However, the four-week moving average for new claims, which irons out week-to-week volatility, rose only 6,000, suggesting that a recent strengthening of the jobs market remains intact. \"Through the volatility, the trend in claims is likely still flat-to-down, consistent with no let-up from the recent solid pace in payrolls,\" said Jim O\'Sullivan, chief U.louis vuitton outlet online \"Through the volatility, the trend in claims is likely still flat-to-down, consistent with no let-up from the recent solid pace in payrolls,\" said Jim O\'Sullivan, chief U.[url=http://www.tustininformationcenter.com title=louis vuitton usa]louis vuitton usa[/url]S.S. economist at High Frequency Economics in Valhalla, New York. economist at High Frequency Economics in Valhalla, New York. Nonfarm payrolls increased strongly in October and November, and the jobless rate hit a five-year low of 7. Nonfarm payrolls increased strongly in October and November, and the jobless rate hit a five-year low of 7.0 percent.louis vuitton neverfull gm0 percent. The steady stream of fairly upbeat data should give the Fed cover to start cutting back its monthly $85 billion bond buying program soon, and could fuel some speculation a move could come as early as the central bank\'s meeting on Tuesday and Wednesday. The steady stream of fairly upbeat data should give the Fed cover to start cutting back its monthly $85 billion bond buying program soon, and could fuel some speculation a move could come as early as the central bank\'s meeting on Tuesday and Wednesday. (Reporting by Lucia Mutikani; Additional reporting by Phil Wahba; Editing by Andrea Ricci) FILED UNDER: MONEY Tweet this Link this Share this Digg this Email Print Reprints More From Reuters South Korea military shoots man trying to float across . 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Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.louis vuitton tote For more information on our comment policy, see http://blogs.reuters.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (23) byrond2 wrote: The job market isn’t strengthening.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (23) byrond2 wrote: The job market isn’t strengthening. That’s just fake seasonal adjustments and lies. That’s just fake seasonal adjustments and lies. Dec 12, 2013 8:42am EST -- Report as abuse Crash866 wrote: You voted…twice… Dec 12, 2013 9:21am EST -- Report as abuse Crash866 wrote: The labor market is strengthening, with nonfarm payrolls increasing solidly in October and November.louis vuitton outlet online Dec 12, 2013 8:42am EST -- Report as abuse Crash866 wrote: You voted…twice… Dec 12, 2013 9:21am EST -- Report as abuse Crash866 wrote: The labor market is strengthening, with nonfarm payrolls increasing solidly in October and November.[url=http://www.tustininformationcenter.com title=louis vuitton usa]louis vuitton usa[/url] The unemployment rate dropped to a five-year low of 7. The unemployment rate dropped to a five-year low of 7.0 percent in November.0 percent in November. Maybe if you say it three time and click your heels it will come true!! Dec 12, 2013 9:23am EST -- Report as abuse See All Comments »Add Your Comment Three \'Avatar\' sequels to be made in New Zealand: government 1Amazon\'s German workers set to go on strike 2Arrested in Islamic Pakistan for reading the Koran: Ahmadi sect under siege 3Japan business mood hits six-year high as \'Abenomics\' takes hold 4Riot in China\'s Xinjiang kills 16, \'terror gang\' blamed 5 Intel® Technology Powering the Internet of Things Tech Today: Home Energy Usage Tech Today: Improving Patient Care Tech Today: Expanding Broadcast Television See how billions of devices are making the internet smarter Infographic Follow Reuters Facebook Twitter RSS YouTube RECOMMENDED Montana bride pleads guilty to killing husband (0:37)Play Video Montana bride pleads guilty to killing… Kim Jong Un\'s uncle believed to have been dismissedPlay Video Kim Jong Un\'s uncle believed to have been… Couple mistakenly given bag of cash at McDonalds (0:58)Play Video Couple mistakenly given bag of cash at… Beware of disturbing trend: Candy laced with prescription or illicit drugs (Children\'s Hospital of Wisconsin - Sponsored) Beware of disturbing trend: Candy laced with… Common financial setbacks and what to do about them (Wells Fargo - Sponsored) Common financial setbacks and what to do… KEY RATES MORTGAGEHOME EQUITYSAVINGSAUTOCREDIT CARDS See today\'s average mortgage rates across the country. Maybe if you say it three time and click your heels it will come true!! Dec 12, 2013 9:23am EST -- Report as abuse See All Comments »Add Your Comment Three \'Avatar\' sequels to be made in New Zealand: government 1Amazon\'s German workers set to go on strike 2Arrested in Islamic Pakistan for reading the Koran: Ahmadi sect under siege 3Japan business mood hits six-year high as \'Abenomics\' takes hold 4Riot in China\'s Xinjiang kills 16, \'terror gang\' blamed 5 Intel® Technology Powering the Internet of Things Tech Today: Home Energy Usage Tech Today: Improving Patient Care Tech Today: Expanding Broadcast Television See how billions of devices are making the internet smarter Infographic Follow Reuters Facebook Twitter RSS YouTube RECOMMENDED Montana bride pleads guilty to killing husband (0:37)Play Video Montana bride pleads guilty to killing… Kim Jong Un\'s uncle believed to have been dismissedPlay Video Kim Jong Un\'s uncle believed to have been… Couple mistakenly given bag of cash at McDonalds (0:58)Play Video Couple mistakenly given bag of cash at… Beware of disturbing trend: Candy laced with prescription or illicit drugs (Children\'s Hospital of Wisconsin - Sponsored) Beware of disturbing trend: Candy laced with… Common financial setbacks and what to do about them (Wells Fargo - Sponsored) Common financial setbacks and what to do… KEY RATES MORTGAGEHOME EQUITYSAVINGSAUTOCREDIT CARDS See today\'s average mortgage rates across the country. 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