U.S. Retail Sales Rise Less than Expected

  • 2/25/2023
  • 23:32
  • 6
  • 0
  • 0
news-picture

WASHINGTON, Safar 1, 1437, Nov 13, 2015, SPA -- U.S. retail sales rose less than expected in October amid a surprise decline in automobile purchases, the government said Friday, suggesting a slowdown in consumer spending that could temper expectations of a strong boost in fourth-quarter economic growth. The Commerce Department reported that retail sales climbed 0.1 percent last month after being unchanged in September. Economists had predicted that sales would gain 0.3 percent. Sales at auto dealerships fell 0.5 percent last month after rising 1.4 percent in September. The drop was surprising given that automakers reported strong sales for October. Retail sales excluding automobiles, gasoline, building materials, and food services rose 0.2 percent after a 0.1 percent gain in September. The lackluster report suggests that savings from cheaper gasoline are being used to pay rents, which have increased significantly over the past year. --SPA 17:59 LOCAL TIME 14:59 GMT www.spa.gov.sa/w

مشاركة :