Sales, Good News | featured news

The US economy registers surprisingly strong consumer confidence and new home sales data, suggesting the recovery is gathering steam.

Many top retailers reported strong January sales on Thursday after offering merchandise and deals that drew in shoppers in spite of higher payroll taxes.

U.S. retail sales rose in September as Americans bought more cars and gasoline, while a gauge of consumer spending pointed to stronger-than-expected economic growth in the third quarter.

Retail sales in the U.S. increased in August by the most in six months, boosted by demand for automobiles along with higher gasoline prices that left consumers with less to spend on other goods. The 0.9 percent gain followed a revised 0.6 percent advance in July that was smaller than initially reported, the Commerce Department said today in Washington. The median forecast of 84 economists surveyed by Bloomberg called for an increase of 0.8 percent. Sales slowed at department stores, apparel retailers and electronics outlets.

Deep discounts and the warmest July weather in decades should help retail chains report a rise in monthly sales, with many expecting warehouse clubs and high-end chains to lead the way.

General Motors Co. said Friday it set a sales record in China in September and total sales for the first nine months of the year rose 55 percent to nearly 1.3 million vehicles.