• U.S. retail sales increase more than anticipated in October

Market news

15 November 2019

U.S. retail sales increase more than anticipated in October

The Commerce Department announced on Friday the sales at U.S. retailers rose 0.3 percent m-o-m in October, following an unrevised 0.3 percent m-o-m drop in September, supported by motor vehicle purchases and higher gasoline prices.

Economists had expected total sales would increase 0.2 percent m-o-m in October.

Excluding auto, retail sales increased 0.2 percent m-o-m in October after an unrevised 0.1 percent m-o-m decline in the previous month, missing economists’ forecast for a 0.4 percent m-o-m gain.

Meanwhile, closely watched core retail sales, which exclude automobiles, gasoline, building materials and food services, and are used in GDP calculations, grew 0.3 percent m-o-m in October after a revised 0.1 percent m-o-m decline in September (originally unchanged m-o-m).

In y-o-y terms, the U.S. retail sales rose 3.1 percent in October, following a 4.1 climb in the previous month.

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