Retail sales up more than expected in October

[cal04]

Largest gain in seven months, boosted by purchases of motor vehicles
http://www.msnbc.msn.com/id/40192128/ns/business-personal_finance/

Sales at U.S. retailers rose more than expected in October to post their largest gain in seven months, boosted by purchases of motor vehicles and building materials, according to a government report on Monday that was further evidence the economy was regaining strength.

The Commerce Department said total retail sales increased 1.2 percent, the biggest rise since March, after advancing by an upwardly revised 0.7 percent in September.

The fourth monthly increase in retail sales was the latest in a series of data implying the economy's recovery from worst recession since the 1930s was regaining momentum after hitting a soft patch in the summer.

(snip)
October's retail sales report showed gains across most categories, offering hope that consumers will support the economy, despite a 9.6 percent unemployment rate. Data so far for October, including nonfarm payrolls and manufacturing, have pointed to a pick-up in the growth pace.

[elocs]

1. Is this good news? Because all good new must be qualified with a "but" or "however". n/t

[Populist_Prole]

4. Indeed the "but" is justified

It's well and good for the short term, but IMO anything that supports the economic model of retail sales of imported products is simply unsustainable.

The plutocrats often have attempted to whitewash trade deficit numbers by saying it's a good thing since it means people here have money to spend, though one must wonder if this "money" is actually liquid.

[jaxx]

2. Good news.

K&R

[SidDithers]

3. K&R...nt

Sid

[Javaman]

5. Tis the season to go into debt. nt