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Retail sales beat expectations in October

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Retail sales beat expectations in October

“Core” retail sales rebound from dismal September.

Retail sales increased 0.3% last month, according to data released by the Commerce Department today, following a 0.3% decrease in September.

Analysts had expected an increase of 0.2%

Sales excluding autos, gasoline, building materials and food services, so-called “core sales,” increased 0.5% in October, after remaining flat in September (revised).

The results are an indication that consumers are spending more aggressively heading into the holiday season.

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