Keeping you up to date on the latest data releases.
Retail sales jumped up 1.2 percent in October, though that was largely due to a 5.0 percent spike in auto sales. Excluding autos, retail sales rose 0.4 percent during the month, following a 0.5 percent gain in September. Across major categories sales were mixed, with large increases at building material and garden supply dealers (up 1.9 percent) and at sporting goods, hobby, book, and music stores (up 1.0 percent). Modest decreases were seen at furniture stores, electronic and appliance stores, and department stores. A clearer measure of the trend in retail sales — sales excluding autos, building supplies, and gas stations — rose 0.2 percent in October, the fifth consecutive increase in the series. On a year-over-year basis, “core” retail sales are up 4.6 percent and are trending at an annualized rate of 6.3 percent over the past three months.