Economists urging caution when it comes to spending
Economists are still urging caution saying this spending increase is in no way a consumer revival.
Sales are up but still lower than they would like.
Americans increasingly parted with their cash last month.
Buying more of just about everything food, cars, gas, clothing, building materials.. especially electronics.The Commerce Department says retailers reported more than 400 billion dollars in sales last month. An overall increase of 1.1 percent since August. Shoppers say they are reacting to an increased confidence in the economy.
Electronics and appliances saw the biggest gains last month, at 4.5 percent
in part thanks to these guys. I-Phone sales boosted by the release of the I-Phone 5. David Wilson says traffic is increasing at his luxury electronics store.
After electronics, gas stations and car dealerships saw the biggest gains.Because retail makes up the majority of the economy this report gives analysts a good idea of what's in store.
This is a positive sign heading in to a season of holiday spending.
Spending increased in part because of higher prices not higher sales.
Tomorrow we will get a sense of just how much prices climbed when the consumer price index is released.