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Financial News: U.S. Retail Sales Jump More Than Expected In

U.S. Retail Sales Jump More Than Expected In October

11/16/2022 - 08:36:00 (RTTNews)

(RTTNews) - Retail sales in the U.S. showed a significant increase in the month of October, according to a report released by the Commerce Department on Wednesday.

The report showed retail sales surged by 1.3 percent in October after coming in unchanged in September. Economists had expected retail sales to jump by 1.0 percent.

Excluding a sharp increase in sales by motor vehicle and parts dealers, retail sales still shot up by 1.3 percent in October after inching up by 0.1 percent in September. Ex-auto sales were expected to rise by 0.4 percent.

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