Market Updates
Retail Sales Declined After Rising Six Consecutive Months
Brian Turner
15 Nov, 2023
New York City
After rising for six months in a row, retail and food services sales declined 0.1% in October from the previous month, the U.S. Census Bureau reported Wednesday.
Retail sales data adjusted for calendar and seasonal factors but not for inflation, suggesting higher prices are keeping consumer spending in check.
On an annual basis, retail sales rose 2.5% in October from an upwardly revised 4.1% in September.
Sales in the three-month period between August and October rose 3.1% from the same period a year ago.
Retail trade sales decreased 0.2% from September and increased 1.6% from a year ago; gasoline station sales were down 7.5% from a year ago; and sales at nonstore retailers increased 7.6% from a year ago.
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