Economy, Better-than-expected | featured news

A last-minute surge in spending helped many major retailers report better-than-expected sales in December, a relief for stores that make up to 40 percent of annual revenue during the holiday period.

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.

The euro zone's economic woes accelerated last month and China's slowdown looked likely to extend to a seventh quarter, surveys on Wednesday showed, while the United States proved the bright spot with better-than-expected news on services and jobs.

Companies added 162,000 jobs in September, more than economists expected but still pointing to slow improvement in the labor market, data from a payrolls processor showed on Wednesday.

Most retailers, including Costco Wholesale Corp and Limited Brands Inc , posted better-than-expected sales gains at existing stores in August, in what is expected to be a healthy month as parents and students wrapped up back-to-school purchases.

Stocks edged slightly higher on Thursday, up for a fifth session, on better-than-expected jobless claims and trade data in the United States and hopes of further stimulus action from China's central bank.

Stocks are shaking off a two-week slump after a report on retail sales wasn't as bad as economists had predicted... The government said Tuesday that retail sales edged down 0.2 percent last month, the first decline in nearly a year. That was slightly better than analysts were expecting. Americans bought fewer cars during the month, but the decline reflected temporary supply chain disruptions caused by the earthquake and tsunami disaster in Japan. Excluding weak car sales, retail sales rose 0.3 percent.

Retail sales in the U.S. climbed more than forecast in September, easing concern that unemployment stuck near a 26-year high will bring the recovery to a halt.

The 0.3 percent rise in consumer spending in February was considered a respectable showing, given the winter weather.

U.S. stocks rose broadly, with investors encouraged by a government report that job losses were less than expected in February.