Even as retail sales plunged by a record 3.7 percent last month, more recent information looked brighter for the economy, suggesting that the huge wave of layoffs is abating.

        Noting the new government reports Thursday, analysts said they still think this recession, the country's first in a decade, will be a mild one that will be over by late spring.

At Tri-County Mall Thursday, Vinny Sandy of West Chester checks out a Homer Simpson/Rubik Cube game. (Michael Snyder photo) | ZOOM |

        The Commerce Department report on retail sales showed the big decline in November following an even larger increase of 6.4 percent in October. Both figures were records under the government's current tracking system, which goes back to 1992.

        Shoppers at Tri-County Mall Thursday didn't seem to be letting up, although they are winding down their purchases. Retail sales might not get the last-minute bump that they often get in December.

        “This is the end for me, I just needed a few odds and ends,” Edna Ellis of Mason said as she sat with her purchases while her husband shopped. “I usually start Christmas shopping in October.”

        Becky Howard of Liberty Township enjoyed a break with son Isaac, 5 months, and savored the feeling of being almost finished.

        “This year, the way the economy is going, I'm trying to buy things that people can actually use instead of frivolous things,” she said.

        Some shoppers set ambitious timelines for themselves, resolved not to wait until the last minute.

        “I started yesterday, and I'm trying to get done by tomorrow, or at least before the weekend,” Nancy Roy of Evendale said as she selected some items at the games kiosk.

        Although female shoppers dominated Thursday morning, there were quite a few serious male gift-seekers at Tri-County's specialty boutiques. Jim Sandy of West Chester, accompanied by his son Vinny, combed the game shelves for gift ideas.

        “I started early this year, around Veterans Day, and we're just finishing up. We have a few other little things to get.”

        Justin Meyer laughed when asked if his gift-buying was almost complete. “I'm pretty much just getting started,” the Fairfield resident said, explaining that he tends to procrastinate.

Auto sales peaked

        October and November sales were whipsawed by auto sales, which soared in October as dealers offered zero-rate financing to lure shoppers back into showrooms after the Sept. 11 terrorist attacks, only to retreat in November.

        Meanwhile Thursday:

        • The government said new claims for unemployment benefits fell by 88,000 for the first week in December, the biggest decline in nine years, and a sign that the country may have seen the worst of the layoffs, analysts said.

        • A third report showed that prices at the wholesale level, led by another big decline in energy costs, fell for a second straight month. The Labor Department said its Producer Price Index dropped by 0.6 percent in November following a 1.6 percent decline in October.

        The PPI often is a precursor to where prices are headed on the consumer level.

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