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US retail sales up in October, beats estimates

by ChemOrbis Editorial Team -
  • 14/11/2014 (16:53)
According to data compiled by the US Commerce Department, US retail sales rose 0.3% in October after posting a decrease of 0.3% in the previous month. Economists’ initial estimates called for an increase of 0.2% in a survey conducted by Bloomberg.

The increases in the country’s retail sales were attributed to lower gas prices, holiday shopping season as well as improved consumer sentiment on the back of higher employment. The country’s unemployment rate posted its lowest level in more than six years.
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