IE Business Daily Business news for the Inland Empire.
National retail sales posted a 4.6 percent increase last month compared with October 2013, according to a report released last week.
Minus the impact of gasoline prices, the increase would have been six percent, according to data released Thursday by the International Council of Shopping Centers.
The year-over-year jump is a good sign heading into the Christmas shopping season, said Jesse Tron, spokesman for the New York-based council.
“An improving economy continues to be the main driver of stronger consumer demand compared with last year,” Tron said in a statement.
“While in the short term the lower gas prices may have reduced the overall rise in sales this month, the added boost in discretionary income for consumers will help during the upcoming holiday season.”
Retail sales are expected rise four to five percent this month compared with last November, the council predicted.
