California Business Minute™

Hi, I am Tim Johnson and welcome to the California Business Minute.

The U.S. Census Bureau announced advance estimates of U.S. retail and
food services sales for August, adjusted for seasonal variation and
holiday and trading-day differences, but not for price changes, were
$351.4 billion, an increase of 2.7 percent (±0.5%) from the previous
month, but 5.3 percent (±0.7%) below August 2008.

Retail sales rose in August at the fastest pace in 3 1/2 years.  Retail
sales were bolstered by the government's "cash for clunkers" program,
which gave consumers cash to swap aging gas-guzzling cars for new, more
fuel-efficient models.

Motor vehicle and parts sales surged 10.6 percent last month, the biggest
rise since October 2001. Rising gasoline prices also added to the increase
in overall retail sales. The report, however, showed strength across most
sectors, with the exception of furniture and building materials, evidence
that household spending was likely on the mend.

I am Tim Johnson and this has been the California Business Minute.