Economics
U.S. Retail Sales Rose in October at Slowest Pace in Six Months
- Clothing, sporting goods lead declines as most categories fall
- Nonstore sales gain, pointing to continued e-commerce strength
Photographer: Nina Westervelt/Bloomberg
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U.S. retail sales climbed in October at the slowest pace in six months, suggesting consumers are becoming more hesitant amid a surging pandemic and lack of fresh federal stimulus.
The value of total sales increased 0.3% from the prior month, when there was a downwardly revised 1.6% gain, Commerce Department figures showed Tuesday. The median estimate in a Bloomberg survey of economists called for a 0.5% increase. Excluding autos and gasoline, sales rose 0.2%, compared with estimates for a 0.6% gain.