US Retail Sales Rise 1.4% in October

New car sales helped push US retail sales to a gain of 1.4 percent in October, beating handily the expected 0.8 percent increase. However, when auto sales are removed from the calculation, retail sales only rose 0.2 percent suggesting that overall, consumer spending is still far below historical levels and leaving some analysts to question the likelihood of the recovery to maintain momentum.

Associated Press

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.