Where Shopping Is Going Strong: Online
(DailyFinance) — The latest consumer spending numbers for September may not have been as rosy as analysts expected, but consumers have been less shy about spending more in cyberspace. Online retail spending rose an impressive 9% year-over-year in the third quarter, according to a report from Internet marketing and research firm comScore (SCOR) today. Such positive growth going into the fourth quarter could bode well for the upcoming holiday shopping season in spite of signs that indicate consumer spending at this level may be unsustainable. Earlier on Nov. 1, the Commerce Department said consumer spending rose at an annual rate of 0.2% in September, lower than the 0.5% recorded in July and August. For the third quarter, consumer spending rose 2.6%, the fastest rate since 2006. Of course, when consumers are barely spending at all, any decent activity can look like a major spike.
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