Economic Buzz: US Retail Sales Surge 1.3% In October

17 Nov 2022 , 08:43 AM

Retail sales in the U.S. showed a significant increase in the month of October, according to a report released by the Commerce Department. The report showed retail sales surged by 1.3 percent in October after coming in unchanged in September. Excluding a sharp increase in sales by motor vehicle and parts dealers, retail sales still shot up by 1.3 percent in October after inching up by 0.1 percent in September. Ex-auto sales were expected to rise by 0.4 percent. The Commerce Department said closely watched core retail sales, which exclude automobiles, gasoline, building materials and food services, increased by 0.7 percent in October after climbing by 0.6 percent in September.Powered by Commodity Insights