Retail sales in the United States increased in October

By: Trademagazin Date: 2022. 11. 16. 10:48

Retail sales in the United States rose more than expected in eight months, according to the U.S. Department of Commerce’s Statistics Institute in Washington, D.C. in October. Based on Wednesday’s Census Bureau report.

Retail sales increased by 0.9 percent

Retail sales in the United States rose by 1.3 percent in October, exceeding the expected 0.4 percent, the largest month-on-month increase in eight months, after unchanged sales in September.

Compared to a year earlier, retail sales in October increased by 8.3 percent. In the previous month, September, it exceeded the previous year by 8.6 percent, and in August by 8.9 percent.

Auto dealer sales rose 1.3 percent on a monthly basis in October as supply chain constraints eased, while rising gasoline costs boosted gas station sales by 4.1 percent. Excluding gasoline and car sales, retail sales increased by 0.9 percent.

MTI