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.
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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.
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