CALIFORNIA BUSINESS MINUTE Retail Sales 09-14-10
Hi, I am Tim Johnson and welcome to the California Business Minute
The Commerce Department reported that U.S. retail sales increased for the second consecutive month to 0.4 percent to $363.7 billion in August from July. And sales were 3.6 percent higher than from August 2009. Retail sales rose by the largest amount in five months. It was the second straight monthly increase and the biggest gain since March.
Bigger back-to-school discounts, an increase in the number of states offering tax-free holidays and the restoration of extended jobless benefits may have helped boost demand
Leading retail growth were increases in food and beverage, health and personal care, clothing and clothing accessories, sporting goods, hobby, book and music stores.
Those lagging or showing no growth included building material and garden supply, furniture and home furnishing, electronic s and appliance retailers.
I am Tim Johnson and this has been the California Business Minute.
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