US EditionRetail sales unchanged in October hurt in part by a decline in auto sales
A 1.6% decline in motor vehicle sales offset a 0.4% rise in other retail sectors as consumers faced high prices and weaker job growth, Commerce Department said.
- Tuesday's Commerce Department report showed U.S. retail and restaurant sales were unchanged in October from September after a delay caused by the 43-day government shutdown.
- Many households pulled back amid rising costs, moderating spending as they struggled with high prices for groceries, rent and imported goods affected by tariffs, while Labor Department job reports show weak hiring and a higher unemployment rate.
- A big factor was the drop in auto-dealership sales, as motor vehicle and auto parts dealerships fell 1.6% after federal EV subsidies expired; meanwhile, online retailers rose 1.8%, department stores 4.9%, clothing 0.9%, furniture 2.3%, and restaurants dipped 0.4%.
- Retailers are preparing for last-minute holiday crowds with expanded hours and stepped-up deals ahead of Dec. 25, and the National Retail Federation expects sales growth over November and December, supported by strong Black Friday weekend data.
- The retail sales report covering one-third of consumer spending offers an elevated starting point for the holiday stretch, as Tim Quinlan, Wells Fargo economist, noted, while Bank of America Institute data show higher-income shoppers outpacing lower-income households.
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30 Articles
Capital Gazette
Retail sales unchanged in October hurt in part by a decline in auto sales
By ANNE D’INNOCENZIO, AP Retail Writer NEW YORK (AP) — Sales at U.S. retailers and restaurants were unchanged in October from September as consumers moderated their spending amid worries about higher prices and other economic uncertainties after splurging over the summer. But a big factor dragging down the figure was a 1.6% drop in sales at motor vehicles and auto parts dealerships, hurt by the expiration of federal government subsidies that sli…
US Consumers Took a Breather in October as Retail Sales Stalled
U.S. retail sales were unexpectedly flat in October, as consumers appeared reluctant to open their wallets ahead of the holiday season. Change in retail sales came in at zero percent, from a downwardly revised 0.1 percent increase in September, according to data released by the Department of Commerce’s Census Bureau on Dec. 16. The market consensus pointed to a reading of 0.1 percent. A 1.6 percent decline in receipts at motor vehicle and parts …
Retail sales unchanged in October as shoppers moderated spending
Sales at U.S. retailers and restaurants were unchanged in October from September as consumers moderated their spending amid worries about higher prices and other economic uncertainties after splurging over the summer
Associated Press News
Retail sales unchanged in October as shoppers moderated spending due to economic uncertainty
Sales at U.S. retailers and restaurants were unchanged in October from September as consumers moderated their spending amid worries about higher prices and other economic uncertainties after splurging over the summer.
US Retail Sales Stagnant in October
US retail sales remained largely unchanged in October, according to a recent Commerce Department report. The report, which was delayed due to the government shutdown, indicated that the value of retail purchases, unadjusted for inflation, saw virtually no change following a revised 0.1 per cent increase in September. Excluding both auto dealers and gasoline service stations, sales experienced a more robust increase of 0.5 per cent. While eight o…
Retail sales in the United States stagnated last October compared to September, when consumption advanced 0.1% in revised reading, according to the Census Bureau this Tuesday.
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