United States: Retail sales growth ebbs in October
Latest reading: Retail sales grew 0.4% month-on-month in seasonally adjusted terms in October (September: +0.8% mom), slightly above market expectations. October’s slowdown was driven by decelerations in subsectors such as food and beverages, general merchandise stores and non-store retailers.
On an annual basis, retail sales rose 2.8% in October, which was better than September’s 2.0% expansion. Meanwhile, annual average growth of retail sales was stable at September’s 2.7% in October.