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