Retail sales in the United States rose 1.3 percent in October, beating expectations of 0.4 percent, the largest monthly increase in eight months, after unchanged sales in September.
Compared to the previous year, retail sales in October increased by 8.3 percent. In the previous month, in September, it exceeded the previous year by 8.6 percent, and in August by 8.9 percent – quotes Massachusetts Institute of Technology (MTI) Report.
Car dealership sales rose 1.3 percent month-on-month in October as supply chain restrictions were eased, while higher gasoline costs boosted gas station sales by 4.1 percent. Excluding gasoline and auto sales, retail sales increased 0.9 percent
Another increase of 1.6 percent was observed in the turnover of catering establishments, the volume of sales of food and beverage stores increased by 1.4 percent, the turnover of non-store retailers by 1.2 percent, sales of building materials by 1.1 percent, and healthy sales. And personal care services at 0, at 5 percent.
The volume of sales of electronic goods decreased by 0.3 percent, and the volume of sales of sports games, hobbies, music and bookstores decreased by 0.3 percent.