US retail sales rise unexpectedly in October
by ChemOrbis Editorial Team - content@chemorbis.com
According to the data from the US Commerce Department, overall retail sales in the US unexpectedly increased on a yearly and monthly basis.
The data showed that the country’s retail sales witnessed an upturn of 0.2% on a monthly basis from a revised increase of 1.9% in September. The unexpected increase in retail sales defied the economists’ forecasts for a stable reading in October.
The monthly rise was mainly attributed to the continued growth in auto sales, which rose by 0.7% in October after surging 4.6% in September.
On a yearly basis, the retail sales also increased by 4.6% in October.
The data showed that the country’s retail sales witnessed an upturn of 0.2% on a monthly basis from a revised increase of 1.9% in September. The unexpected increase in retail sales defied the economists’ forecasts for a stable reading in October.
The monthly rise was mainly attributed to the continued growth in auto sales, which rose by 0.7% in October after surging 4.6% in September.
On a yearly basis, the retail sales also increased by 4.6% in October.
More free plastics news
Plastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...- Will European PVC take a breather from 9-month downtrend in February?
- Supply limitations bolster Feb PP and PE outlook in Turkey
- China’s import PP markets climb to 6-month highs prior to Lunar New Year
- Weak activities press import PE, PP suppliers for discounts in Egypt
- Price erosion continues inside Middle Eastern polyolefins markets
- European PP, PE markets open 2023 with renewed drops
- Tight supply keeps expectations bullish in Turkey’s PVC market
- End of China’s ‘zero-COVID’ stance: Double-edged sword for Asia PVC, PP and PE markets
- Mid-Eastern sellers approach China, SE Asia and Turkey with firmer PP, PE prices for Jan
- Egypt’s local PE, PP markets head north as pound plunges to new low
