Retail sales have surged
Posted by: Curtis Stevens on November 23rd, 2009

Retail sales for October were much better than expected.   Sales jumped 1.4% compared to a decline of this month last year.  Since Black Friday is around the corner, retailers were hoping this would instill confidence in consumers and encourage them to spend this holiday season.  York was saying that the cash for clunkers program made the numbers jump around too much to get an accurate count.  The holiday sales season is all backed by consumer spending and since we have been at high unemployment for several years now, consumers are strapped for cash.  Some like York do not believe this holiday season will be any better than last year even though economist are forecasting for things to be on the positive side.  If they do indeed turn up to be bigger than expected, merchants will find themselves with higher credit card processing bills. But that is a good price to pay for an increase in sales.  In any event, we should know what will happen in a  few months, so stay tuned with fingers crossed.

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