[11/14/14]  Retail sales rebounded in October as tumbling gasoline prices left consumers with more discretionary cash.

Retail sales increased 0.3% last month, roughly in line with the 0.2% jump expected by economists surveyed by Action Economics. Excluding volatile auto purchases, sales rose 0.3%.

Retail sales fell 0.3% in September, sparking a stock sell-off in October.

Last month, a core measure of sales that excludes autos, gasoline, food services and building materials jumped 0.5%, a positive sign for the holiday shopping season.

Sales were brisk at clothing stores, rising 0.5% compared to September. Sales also increased solidly at furniture and health and personal care stores. Sales fell 1.6% at electronics and appliance retailers after surging in September on the rollout of the iPhone 6.

Consumer spending this year has continued to be tempered by modest average annual wage growth of about 2%, tainting a recovery that has accelerated amid stronger factory output and business investment.

But plunging gas prices since July has boosted consumer confidence to a seven-year high and prompted economists to predict that consumers will spend much of the fuel savings on other purchases, juicing holiday sales.

Publisher:  USA Today

Author:  Paul Davidson

Link:  http://www.usatoday.com/story/money/business/2014/11/14/october-retail-sales/18996467/