US Retail Sales Unexpectedly Rise 0.2% in October
Retail sales in the US rose 0.2 percent month over month in October. The reading came above market expectations of no change after purchases surged 1.9 percent in September as people replaced vehicles and items destroyed by hurricanes.
9 of 13 major retail categories showed month-over-month increases.
Purchases at automobile dealers climbed 0.7% after surging 4.6% in September. Sales also rose rose at: clothing vendors (0.8 percent vs 0.1 percent), furniture stores (0.7 percent vs 0.1 percent), electronics and appliiance stores (0.7 percent vs 0.3 percent), restaurants (0.8 percent vs 0.1 percent), and sporting goods (1.5 percent vs 0.1 percent).
In contrast, receipts at gasoline stations fell 1.2 percent after growing 6.4 percent in September. The decline was also observed in purchases of building marterial (-1.2 percent vs 3 percent).
Excluding automobiles and gasoline, purchases rose 0.3 percent after a 0.6 percent gain.
So-called retail-control group sales, which are used to calculate GDP and exclude food services, auto dealers, building materials stores and gasoline stations, grew 0.3 percent following an upwardly revised 0.5 percent increase in September.
On annual basis, retail sales grew 4.6 percent versus 4.8 percent repoerted in September.
11/15/2017 2:07:19 PM