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U.S. Retail Sales Exceed Estimates, With Some Signs of Cooling
U.S. retail sales rose more than estimated in October on gains from auto dealers and gas stations, though declines in categories including clothing and furniture stores tempered the advance. The value of overall sales increased 0.3% after an unrevised 0.3% drop the prior month, Commerce Department figures showed Friday. The median estimate in a Bloomberg survey called for a 0.2% advance. Sales in the “control group” subset, which some analysts view as a more reliable gauge of underlying consumer demand, increased 0.3% as projected. The measure excludes food services, car dealers, building-materials stores and ... (full story)
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