Press Release

Gutierrez Statement on Retail Sales Outlook

WASHINGTON—Commerce Secretary Carlos M. Gutierrez today released the following statement on the outlook for retail sales this holiday season:

“Consumers are beginning the holiday shopping season with a robust economy. Our economy has shown signs of strength including increased take home pay, falling gasoline prices, steady job creation, and ten consecutive quarters of strong growth.

“Consumers and retailers are showing their confidence in the economy. Retailers just increased their forecasts for holiday sales. Already, Commerce Department data shows retail sales in October were strong for apparel, electronic, appliance, furniture and department stores and the President’s economic policies have helped retail sales grow by more than 20 percent since January 2001.

“The bottom line is that consumers are going into the holiday shopping season with a strong economy that benefits families, small business owners, and entrepreneurs,” Gutierrez concluded.