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.