US retail sales hold up in October
By Alexander Bueso
Date: Wednesday 15 Nov 2023
(Sharecast News) - Consumer outlays in America held up better than expected last month.
According to the U.S. Department of Commerce, in seasonally adjusted terms retail sales volumes dipped by 0.1% month-on-month in October to reach approximately $705bn.
Economists had anticipated a decline of 0.3%.
Furthermore, September's increase was revised up by two tenths of a percentage point to 0.9%.
Excluding automobiles and parts sales edged up by 0.1%, as those for cars and parts fell by 1.0%.
Sales of furniture and at home furnishing stores fell by 2.0% on the month.
Non-store retailers however increased by 0.2% while those at food services and drinking places rose by 0.3%.
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