Friday, November 14, 2014

Retail Sales rebound, rising 0.3% in October

Retail sales increased 0.3% in October, a modest increase that offset a decline the previous month. Despite the monthly increase, year-over-year growth slowed to 4.1%. Falling gas prices have held sales lower at gas stations, but should free up money for spending in other areas and boost confidence.

Excluding gasoline stations and autos, sales increased a strong 0.6% over the month. The strongest gains were seen by non-store retailers, which was likely driven partially by the release of Apple’s IPhone 6.

Read the Census report.

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