Retail Sales Continue to Rebound…

Nov. 16, 2010 - PRLog -- Andover, Massachusetts November 16th, 2010 –  The Commerce Department released the monthly retail sales report for October yesterday and surprised many on Wall Street with better than expected numbers. Overall retail sales jumped 1.2% last month on the back of a great month for auto sales. This 1.2% jump was double the expected increase and is in fact the largest increase since March. Remember, fears of a double dip recession peaked in early summer due to consecutive months of retail sales declines. As a result, having four consecutive months of better than expected results points to a continued strengthening of not only the US economy but specifically the US consumer who accounts for over 70% of the US economy.

Retail sales which include everything from big box retailers to auto dealerships are a key indicator of how spending habits are changing among consumers. Auto sales jumped 5% in October compared to September due to new models being introduced and consumers having built up demand before the winter season begins. This rise in retail sales heading into the all important holiday season indicates that consumers will not be cutting back on their holiday spending as some had expected. Consumer confidence continues to rebound and large scale layoffs are becoming increasingly rare. With the recent news of unemployment claims dropping, everything is setting up for a better than expected last 2 months of the year. Let’s hope this turns out to be true and we can begin 2011 on a high note!

Readers, have you noticed any improvement among your friends, family, and coworkers in regards to their outlook on the economy? Are you spending more money again on shopping or are you still wary of this economic recovery?

Preferred Financial Services is a debt reduction firm certified by the CFC (Center for Financial Certifications) and accredited by U.S.O.B.A. (United States Organizations for Bankruptcy Alternatives). Headquartered in Andover, Massachusetts, Preferred Financial Services has been a leader in the debt reduction industry since 2003. Preferred Financial Services has acquired some of the best experience in the industry over the past 7 years. In 2009 alone Preferred Financial Services reduced over $16.5 million worth of consumer debt for just $6.4 million, for a savings of about 60%- and over 2,900 accounts were settled on behalf of their clients.

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Contact:
Stephan Tavernini
Marketing Coordinator
Certified IAPDA Debt Arbitrator
Preferred Financial Services
stavernini@pfs1.net

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Preferred Financial Services is the leading voice in the debt settlement industry. PFS has worked with hundreds of creditors to help negotiate realistic goals for those drowning credit card debt.