Market Updates
Retail Sales Rise In October On Resilient Consumers
Brian Turner
16 Nov, 2022
New York City
Retail sales rose in October driven by higher auto and gasoline sales but the weakness in electronics and appliance sales persisted, the U.S. Census Bureau reported Wednesday.
Retail sales, unadjusted for inflation, rose 1.3% in October from September and 8.3% from a year ago, on a rebound in auto and gasoline sales.
Auto dealers sales increased 1.3% from September and 5.2% from a year ago after supply chain problems eased and gasoline stations sales rose 4.1% and 17.8% respectively.
Department stores and electronics and appliance were the only two categories where sales declined from the month and a year ago.
Electronics and appliances sales in October declined 0.3% from September and plunged 12.1% from a year ago.
Department store sales declined 2.1% from September and dropped 1.6% from a year ago.
Food services and drinking places sales increased 1.6% from September and 14.1% from a year ago.
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