Shop ‘til we drop (but only on cars): Retail sales rise mostly on account of high auto sales

Nov 16th, 2009 - NY Daily News

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Retail sales rose more than expected in October due largely to a big rebound in auto sales. But broader consumer spending remains under pressure, raising questions about the durability of the recovery.

The Commerce Department said Monday that retail sales rose 1.4 percent last month. Economists surveyed by Thomson Reuters had expected a gain of 1 percent.

But excluding auto sales, retail demand rose 0.2 percent, half of the expected 0.4 percent rise. The government also revised the September performance down to show a 2.3 percent decline, from the 1.5 percent drop initially reported.

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