U.S. Retail, Manufacturing Likely Rose in October
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U.S. Retail, Manufacturing Likely Rose in October
hurricanemaxi Dim 13 Nov - 10:31
Retail sales probably rose in October and U.S. manufacturing accelerated, helping give the world’s biggest economy a boost entering the final months of 2011, economists said before reports this week.
The 0.3 percent rise in purchases would follow a 1.1 percent gain that was the most in seven months, according to the median forecast in a Bloomberg News survey ahead of Commerce Department figures on Nov. 15. Industrial production climbed 0.4 percent, twice as much as in September, according to the survey median. The cost of living was little changed and home construction cooled, other data may show.
Unemployment at 9 percent and limited wage growth help explain why retailers like Macy’s Inc. (M) and Kohl’s Corp. (KSS) plan to use more discounts to lure consumers this holiday shopping season. At the same time, equipment purchases and record exports are propelling manufacturing and sustaining a recovery that’s yet to extend to the housing market.
“There’s positive momentum in demand, which suggests retailers should see a decent Christmas,” said Scott Brown, chief economist at Raymond James & Associates Inc. in St. Petersburg, Florida. “The economy is continuing to expand though it’s not firing on all cylinders.”
Retail sales may reflect improved demand for cars as Americans returned to showrooms. Auto purchases ran at a 13.2 million annual rate in October, the highest since February and up from a 13.04 million pace in September, according to data from Ward’s Information Products.
New-Vehicle Demand
“Consumers are just saying it’s time to get a new vehicle,” Ken Czubay, Ford Motor Co. (F)’s U.S. sales chief, said on a Nov. 1 conference call. “We’re seeing that more and more everyday from our dealers.”
Sales excluding automobiles climbed 0.2 percent in October after a 0.6 percent jump, according to the median forecast in the Bloomberg survey.
Vector Art
profesores particulares de inglés en Barcelona
The 0.3 percent rise in purchases would follow a 1.1 percent gain that was the most in seven months, according to the median forecast in a Bloomberg News survey ahead of Commerce Department figures on Nov. 15. Industrial production climbed 0.4 percent, twice as much as in September, according to the survey median. The cost of living was little changed and home construction cooled, other data may show.
Unemployment at 9 percent and limited wage growth help explain why retailers like Macy’s Inc. (M) and Kohl’s Corp. (KSS) plan to use more discounts to lure consumers this holiday shopping season. At the same time, equipment purchases and record exports are propelling manufacturing and sustaining a recovery that’s yet to extend to the housing market.
“There’s positive momentum in demand, which suggests retailers should see a decent Christmas,” said Scott Brown, chief economist at Raymond James & Associates Inc. in St. Petersburg, Florida. “The economy is continuing to expand though it’s not firing on all cylinders.”
Retail sales may reflect improved demand for cars as Americans returned to showrooms. Auto purchases ran at a 13.2 million annual rate in October, the highest since February and up from a 13.04 million pace in September, according to data from Ward’s Information Products.
New-Vehicle Demand
“Consumers are just saying it’s time to get a new vehicle,” Ken Czubay, Ford Motor Co. (F)’s U.S. sales chief, said on a Nov. 1 conference call. “We’re seeing that more and more everyday from our dealers.”
Sales excluding automobiles climbed 0.2 percent in October after a 0.6 percent jump, according to the median forecast in the Bloomberg survey.
Vector Art
profesores particulares de inglés en Barcelona
hurricanemaxi- Nombre de messages : 30
Age : 35
Date d'inscription : 10/08/2011
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