December 13, 2011
Carrick: Retail sales up in U.S.
On a year-over-year basis, U.S. retail sales increased 6.7 per cent, according to the U.S. census Bureau. That’s a significant advance and should not be too readily dismissed.
However, while Americans seem willing to hand over money for everyday items, the much larger commitment to buying a new home is still in abeyance.
Meanwhile, gasoline prices have taken a zigzag path in 2011, with the price of West Texas Intermediate oil climbing above $110 U.S. per barrel, dropping near $70 and now near $100.
For more analysis of the latest U.S. retail sales figures in the context of the world economy, please see U.S. November retail sales played a role in boosting the economy by Alex Carrick, chief economist, Reed Construction Data Canada.
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Reed Construction Data Canada’s Chief Economist Alex Carrick discusses current developments in the North American economic environment with emphasis on the construction industry.
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