The Census Bureau reported today that retail sales increase for the month of the fifth law and has reached 378.7 billion in November, the second highest monthly in history (not adjusted for inflation) and the highest level since 379.9 billion in November 2007, the month of before the recession began (see chart above the page above). Compared to the previous year November retail sales increased by 7.7%, continued strong earnings from 7.3% to 7.4% in September and October months (see graph background above). This marks the 13th consecutive month of annual earnings in retail sales dating back to November 2009 14 months in a row of annual decrease. In November of last year, all components and the components of the retail sales improved, led by strong gains in sales of motor vehicles (12.5%), construction materials (12.3%), sports (12.3%) clothing (7.5%) and products. Review: Despite weakness continues in the labour market and a stubbornly high unemployment rate, current earnings in retail sales suggest that the U.S. consumer is driven by gains in economic recovery by most of the indicators and measures. As the WSJ reported recently, "after several years of relative savings, consumers can be reached with their money more simply because of pent-up demand, something industry observers call"frugal fatigue.""
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