Largest gain in seven months, boosted by purchases of motor vehicles http://www.msnbc.msn.com/id/40192128/ns/business-personal_finance/Sales at U.S. retailers rose more than expected in October to post their largest gain in seven months, boosted by purchases of motor vehicles and building materials, according to a government report on Monday that was further evidence the economy was regaining strength.
The Commerce Department said total retail sales increased 1.2 percent, the biggest rise since March, after advancing by an upwardly revised 0.7 percent in September.
The fourth monthly increase in retail sales was the latest in a series of data implying the economy's recovery from worst recession since the 1930s was regaining momentum after hitting a soft patch in the summer.
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October's retail sales report showed gains across most categories, offering hope that consumers will support the economy, despite a 9.6 percent unemployment rate. Data so far for October, including nonfarm payrolls and manufacturing, have pointed to a pick-up in the growth pace.