Friday, January 12, 2007

Goldie Marches On...

Strong retail sales report this morning. Strong consumers - this is a big positive. Q4 could be 3 percent growth...

From Bloomberg:

Retail sales in the U.S. rose more than forecast in December, capping the strongest back-to-back gains in almost a year, as growing incomes and holiday discounts kept Americans shopping.

Sales rose 0.9 percent, the most since July, after a 0.6 percent increase in November that was less than previously estimated, the Commerce Department said today in Washington. Sales excluding autos rose 1 percent, the most since January 2006, after gaining 0.7 percent in November.

The report suggests consumer spending, which accounts for more than two-thirds of the economy, gave growth enough of a boost last quarter to overcome slowdowns in home construction and manufacturing. Improved sales at restaurants, electronics and department stores led last month's increase...