Retail Sales Are Expected To Have Strengthened; Weekly Jobless Claims Are Expected To Be Down As Effects Of Superstorm Sandy Continue To Filter Through Economy

Thursday, December 13, 2012 08:09
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Retail Sales Are Expected To Have Strengthened; Weekly Jobless Claims Are Expected To Be Down As Effects Of Superstorm Sandy Continue To Filter Through Economy

Tags: economic indicators | Economic Outlook | economy

Retail sales look to have strengthened in November as consumers once again increased their demand for automobiles.
 
The November retail sales report is expected to come in up .5% after a .3% drop in October.

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Other economic reports may show that wholesale costs and weekly jobless claims fell.
 
Superstorm Sandy caused a jump in demand for cars as victims had to replace damaged vehicles.
 
Consumer spending and demand for goods could not be called strong. Large retail chains are still
offering pre-holiday sales to encourage buying.
 
But it is improving and estimates from 81 economists taken by Bloomberg call for an increase of anywhere from .1% to 2%.
 
Jobless claims are expected to show a decline to 368,000 last week from 370,000.
 
Sales of cars and light trucks increased at the fastest rate since February of 2008 and up 14.2 million from October to a 15.5 million annual rate.
 
Retail sales excluding cars are expected to be relatively flat since not all retailers experienced a bounce after the weakness related to Sandy.

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