Retail sales surge in November, defying expectations.

Retail sales surged in November, trouncing estimates, after steep discounting on holiday merchandise such as electronics, clothes, and home-related goods gave merchants a solid start to this year's holiday shopping season. The U.S. Commerce Department said total sales rose 1.2 percent in November, up from a 0.2 percent gain in October. Scott Hoyt, director of consumer economics with Moody's Economy.com, said the strong sales gains seen across the board from electronics to clothing, food and beverage, and even furniture sellers convinced him that the U.S. economy "is not suffering any collapse in consumer spending growth."