Consumer confidence, Nov. spending up

by

Published: December 2,2010

NATIONWIDE — November retail sales blew by analyst estimates, posting one of the biggest increases in three years, the New York Times reports.

Sales at stores open at least a year – a crucial indicator known as same-store sales – rose an average of 6 percent, according to Thomson Reuters, well above the 2.6 percent that analysts had expected. That was the biggest increase since 2007 except for a 9.2 percent rise in March of this year.

Consumer confidence at its highest level in five months, suggesting more spending might be on the way.

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