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The Commerce Department said total retail sales jumped 1.4% in October, compared with September’s revised decline of 2.3%. Economists surveyed by Briefing.com had anticipated that October sales would grow 0.9%. With Black Friday less than two weeks away, retailers were hoping the report would show consumers signaling a willingness to spend during the all-important holiday sales period. Consumer spending accounts for two-thirds of U.S. economic activity and this data is closely watched to determine whether a recovery is underway. With unemployment at a 26-year high of 10.2%, consumers have been cash-strapped for some time. But with overall retail sales improving, one analyst said the holiday shopping season may come in stronger than expected.Read the full article