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Tuesday, December 1, 2020
HomeNewsEconomyAdvance Retail Sales Gained 0.3% in October, 5.7% Year-Over-Year

Advance Retail Sales Gained 0.3% in October, 5.7% Year-Over-Year

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

Election Uncertainty Slows Advance Retail Sales, 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)

Washington, D.C. (PPD) — The U.S. Census Bureau reported advance retail sales came in at $553.3 billion in October, a 0.3% (± 0.5%) gain that missed the consensus forecast. That’s 5.7% (± 0.7%) above October 2019 and total sales for the July 2020 through September 2020 period were up 5.1% (± 0.5%) from the same period a year ago.

Forecasts ranged from a low of -0.1% to a high of 1.1%. The consensus forecast was 0.4%.

U.S. retail sales from August 2020 to September 2020 was revised from up 1.9% (±0.5%) to up 1.6% (±0.3%).

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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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