Retail sales surge

The Commerce Department reported that retail sales rose more than expected in November, up 1.2 percent after a 0.2 percent increase in October. From year-ago levels, sales rose 6.3 percent, an improvement over the 5.0 percent annual gain in October.
Gasoline station sales rose sharply in November (up 6.8 percent) but other gains were broad-based, led by clothing (up 2.6 percent), electronics (up 2.5 percent), and sporting goods (up 2.2 percent) while motor vehicle sales fell (down 1.0 percent).

Recall that these figures are not adjusted for inflation or population growth, so sales are more an indication of the total price paid rather than the quantity of goods sold.

Nevertheless, despite higher prices at the pump, American consumers appear to be continuing to do their civic duty in support of the U.S. economy.

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UPDATE: Thursday, Dec. 13th, 7:15 AM

Producer prices surged 3.2 percent in November and are up 7.7 percent from year ago levels - tomorrow's report on consumer prices should be very interesting and might give today's seemingly robust retail sales figures a whole different feel.