–Motor Vehicle Sales Up 0.4%, Gasoline Station Sales Down 0.4%
–Sales Excluding Both Motor Vehicles And Gas Up 0.7%
By Kevin Kastner
WASHINGTON (MNI) – Retail sales at U.S. stores surged 0.5% in
October on a rise in motor vehicle sales and a 0.6% jump in sales
excluding motor vehicles and parts, data released Tuesday morning by the
U.S. Commerce Department showed.
Sales excluding both motor vehicles and a 0.4% decline in gasoline
sales were up 0.7%, with generally strong sales gains for most of the
components.
Electronics and appliance sales posted the largest increase, rising
3.7%, the largest gains since November 2009. In addition, sales were up
sharply at food and beverage stores, at building materials stores, and
at sporting goods and book stores.
These increases were offset by adjusted sales declines at clothing
stores, department stores, and furniture stores, suggesting that
early-holiday sales were not as strong as seasonal factors expected.
Retail sales were up 6.7% from a year ago, before seasonal
adjustment, a slower pace than the 8.6% year/year rise for total sales
in September. Sales excluding motor vehicles rose 6.7% year/year in
October, slower than the 8.4% rise in September.
However, seasonally sales were up sharply in October compared with
the third quarter average, based on a Market News International
calculation, a positive for fourth quarter GDP.
** Market News International Washington Bureau: 202-371-2121 **
[TOPICS: MAUDS$,MT$$$$,M$U$$$,MAUDR$]
