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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.

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