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November 16, 2005
Apparel Sector Dresses Up Oct. Retail Sales
October retail sales grew 3.1% over the previous month, thanks to strong demand for apparel and accessories. Lower gas prices also helped fuel the spending surge, according to the U.S. Commerce Department.
Apparel and accessory store sales reached $17.2 billion last month, representing a 6.5% increase over a year ago.
While lower gas prices may take a smaller bite out of disposable incomes going into the holiday shopping season, economists warn that natural gas prices remain high and could lead to significant heating bills this winter.
Posted by Blacks on November 16, 2005 10:25 AM
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