WASHINGTON – U.s. consumers increasing their spending last month in a sign of good health heading into the winter holiday shopping season.
The Commerce Department says retail sales rose 0.8 percent in October, following an upwardly revised 1 percent gain in September. The two-month increase was the largest since the spring of 2014.
Steady rent, and a number of emerging signs of fixed rates, have made buyers more confident and willing to spend. The unemployment rate fell last month to a low of 4.9 percent, and employees saw the biggest annual pay, get it in October since the recession ended.
A number of the largest sales increases were in cars and gasoline, higher prices stimulate gas station sales. Even with the exception of those categories, but the turnover rose 0.6 percent in October and 0.5 percent in the previous month.