Retail sales in the US surged 1.3% month-over-month in October of 2022, the strongest increase in eight months, after a flat reading in September and beating market forecasts of a 1% gain. Sales at motor vehicle dealers were up 1.3% as supply chain constraints have been easing while rising gasoline costs pushed sales at gasoline stations 4.1% higher. Excluding gasoline and autos, retail sales were up 0.9%. Other increases were also seen for sales at food services and drinking places (1.6%), food and beverages stores (1.4%), nonstore retailers (1.2%), furniture (1.1%), building materials (1.1%), and health and personal care (0.5%). On the other hand, sales were down for electronics (-0.3%); sporting goods, hobby, musical and books (-0.3%); and general merchandise stores (-0.2%). October data pointed to resilient consumer spending, despite high inflation and rising borrowing costs. Retail sales aren’t adjusted for inflation. source: U.S. Census Bureau
Retail Sales MoM in the United States averaged 0.41 percent from 1992 until 2022, reaching an all time high of 18.70 percent in May of 2020 and a record low of -15.20 percent in April of 2020. This page provides - U.S. December Retail Sales Increased More Than Forecast - actual values, historical data, forecast, chart, statistics, economic calendar and news. U.S. Retail Sales - data, historical chart, forecasts and calendar of releases - was last updated on December of 2022.
Retail Sales MoM in the United States is expected to be 1.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the U.S. Retail Sales is projected to trend around 1.00 percent in 2023 and 0.40 percent in 2024, according to our econometric models.