U.S. Retail Sales Rise by 0.8% in October

U.S. Retail Sales Rise by 0.8% in October

Nov 15, 2018

U.S. retail sales rose 0.8% in October the Commerce Department said on Thursday.

This was compared to a 0.1% drop in the previous month which was revised down from an initial increase of 0.1%.

Economists had forecast a reading of 0.6%.

Rising retail sales over time correlate with stronger economic growth, while weaker sales signal a declining economy.

Core retail sales, which exclude automobiles, gasoline, building materials and food services, rose 0.7% in October, after a 0.1% decline in the previous month.

The consensus forecast was for a reading of 0.5%.

Core retail sales correspond most closely with the consumer spending component of gross domestic product.

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