- October retail sales in the U.S. rebounded more than anticipated as demand for autos climbed, easing concern households will curtail spending after government incentives ended.
- [A] 1.4% increase followed a [downward revised] 2.3% drop in the prior month that was much larger than previously estimated [originally forecast at down 1.5%], making last month’s gain less impressive, Commerce Department figures showed today in Washington. Purchases excluding autos rose less than forecast.
- Retail sales were projected to rise 0.9% ... according to the median estimate of 66 economists in a Bloomberg News survey. Forecasts ranged from gains of 0.4 percent to 1.8 percent.
- Excluding automobiles, sales increased 0.2% after a 0.4% gain in September. They were forecast to increase 0.4%, according to the survey median.
© 2009 Jeffrey Walkenhorst
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