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News Summary: US retail sales up 1.1 percent

Monday - 10/15/2012, 5:12pm  ET

By The Associated Press

(AP) - SALES UP: Americans spent 1.1 percent more at retail stores in September, the Commerce Department said Monday. That followed a 1.2 percent increase in August. The gains marked the best two months for sales in two years.

PHONES AND CARS: Sales rose in almost every major category, led by another strong month of auto sales and a jump in electronic sales driven by Apple's new iPhone.

OUTLOOK: Rising retail sales reflect a surge in consumer confidence that could help strengthen growth in the second half of the year. Consumer spending drives nearly 70 percent of economic activity.


(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)