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US retail sales rise unexpectedly in October

by ChemOrbis Editorial Team -
  • 16/11/2017 (16:33)
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.
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