Thursday, November 17, 2011
Surprisingly strong retail sales
Posted by David Smith at 09:45 AM
Category: Thoughts and responses

Retail sales volumes rose by a strong 0.6% in October, following a 0.5% increase in September. This was in spite of a drop in consumer confidence to a new low. Sales volumes were up by 0.9% on a year earlier, while values rose by 5.4%. In the absence of inflation, in other words, sales volumes would have been very strong. The release is here.