US retail sales rise unexpectedly 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 newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Asian PET markets in limbo between high costs and tepid demand
- India PVC sentiment improves further despite lower Aug offers from Taiwan
- Asian ethylene, propylene prices remain bullish but caution lingers
- African PP, PE markets offer mixed bag for July
- European PVC suppliers seek hikes for 14th straight month in July
- Turkey’s PP markets rise around 10% in a month
- India PVC sees first hike attempts after weeks of declines
- Import PE increases lose momentum in China, except for LDPE
- Downtrend continues into July in Mid-Eastern PP, PE markets
- Pace of PS drops in Asia slackens; ABS downtrend in full swing