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HomeNewsEconomyU.S. Retail Sales for October Beat Forecast, Indicating Solid 4Q Consumer Spending

U.S. Retail Sales for October Beat Forecast, Indicating Solid 4Q Consumer Spending

Group of friends sitting outdoors with shopping bags; several people holding smartphones and tablets. (Photo: AdobeStock/ OneInchPunch/PPD)
Group of friends sitting outdoors with shopping bags; several people holding smartphones and tablets. (Photo: AdobeStock/ OneInchPunch/PPD)

Group of friends sitting outdoors with shopping bags; several people holding smartphones and tablets. (Photo: AdobeStock/ OneInchPunch/PPD)

The advance estimate for October 2018 U.S. retail sales rose 0.8% (±0.5%) for October, beating the forecast in the first beat on fourth-quarter consumer spending. While the report is solid, the headline does mask a negative revision.

Adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, U.S. retail and food services sales came in at $511.5 billion in October, and are up 4.6% (±0.5%) since October 2017.

Released On 11/15/2018 8:30:00 AM For Oct, 2018

Prior Prior Revised Consensus Consensus Range Actual
Retail Sales – M/M change 0.1 % -0.1 % 0.5 % 0.3 % to 0.7 % 0.8 %
Retail Sales less autos – M/M change -0.1 % 0.5 % 0.3 % to 0.7 % 0.7 %
Less Autos & Gas – M/M Change 0.0 % 0.4 % 0.2 % to 0.5 % 0.3 %
Control Group – M/M change 0.5 % 0.3 % 0.3 % 0.2 % to 0.4 % 0.3 %

Total sales for the August 2018 through October 2018 period were up 5.0% (±0.5%) on the year, while he August 2018 to September 2018 percent change was revised from +0.1% (±0.5%)* to -0.1% (±0.2%).

Retail trade sales rose 0.9% (±0.5%) from September 2018 and 4.3% (±0.5%) from last year. Gasoline Stations posted 16.2% (±1.6%) gains from October 2017, while Nonstore Retailers posted 12.1% (±1.4%) increases since last year.

Written by
Staff Writing Group

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

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