The latest statistics show there was some serious shopping going on in the US in the weeks before the election there. <br /><br /> Retail sales rose more than expected in October, up 0.8 percent from the previous month. Growth from October 2015 was 4.3 percent. <br /><br /> In addition September’s retail sales were revised up to show a 1.0 percent increase instead of the previously reported 0.6 percent rise. <br /><br /> US retail sales surge in October. YoY growth +4.3%, biggest gain in almost two years! pic.twitter.com/hFBpoW2eEg— jeroen blokland (@jsblokland) November 15, 2016<br /><br /> Analysts said that amid the uncertainty over the election outcome, this provides some comfort that the primary driver of growth in the world’s biggest economy remains on a solid footing.<br /><br /> Demand for building materials was strong probably from the clean up and repairs after Hurricane Matthew.<br /><br /> There was a 1.1 percent increase in vehicle sales, following on from a 1.9 percent percent jump in September. <br /><br /> Rising fuel prices boosted receipts at service stations by 2.2 percent.<br /><br /> Firm US retail sales lift rate rise expectations https://t.co/E08LtcGSgR— Global Issues Web (@globalissuesweb) November 15, 2016<br /><br /> The numbers all indicate sustained economic strength which could prompt the US central bank, the Federal Reserve, to raise interest rates next month.<br /><br /> The Fed raised its benchmark overnight interest rate last December and has held it steady since, largely because of concerns over low inflation.<br /><br /> But inflation is creeping higher. A separate government report on Tuesday showed import prices increased 0.5 percent in October after gaining 0.2 percent in September.<br />
