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Ariz. saw a rise in consumer spending in October

Consumers in Arizona spent more money in October on automobiles, clothes and other goods than in that same month a year earlier.

The Arizona Republic reports that that state records show that shoppers spent $3.8 billion on retail goods during October.

That’s up 7.3 percent from the $3.6 billion for the same month a year earlier.

It’s the latest in a string of year-over-year monthly gains that lead economists to believe that economic recovery is solidly under way in Arizona, albeit at a slow pace.

Dennis Hoffman, director of the L. William Seidman Research Institute at Arizona State University, say the real measure will come in the spring when the monthly taxable sales figures are compared against year-earlier numbers that began to reflect the start of the economic recovery.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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