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Consumer spending up on autos, retail

December 2, 2010 12:00:00 AM PST
November retail sales are up from last year with consumer spending having climbed almost 6 percent."This is one of the best holiday shopping weekends we've had in quite a while and I think we can keep it going," said Jackie Fernandez with Retail Partner Deloitte and Touche.

Retail sales aren't the only thing on the mend - auto sales also jumped for nearly all the major car makers.

"We're up 30 percent here last month compared to the previous year," said Terry Miller at Galpin Ford.

The latest sales returns for November show Hyundai to have the biggest boost from last year, jumping 45 percent, followed by Nissan, Honda and Ford with increases of 20 percent or more. Chrysler sales improved 17 percent and GM's 11 percent since 2009.

"I think there is a lot of pent up demand for customers who haven't traded the last couple years and I think those customers are in the mood to upgrade or trade a vehicle in," said Miller.

Even the real estate market is showing improvement with the National Association of Realtors saying the number of people who signed contracts to buy homes jumped more than 10 percent.

But despite the latest encouraging figures, some are still wary of just how much improvement the economy has actually made.

"I'm not sure until we're past the holidays that there's any indication of financial recovery for the country," said Visalaya Hirumpidok of Los Angeles.

Even though the holiday shopping lines may be long, many Americans feel the road to recovery is even longer.


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