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Retail sales anemic again in October, miss estimates

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Retail sales anemic again in October, miss estimates

“Core” retail sales also disappoint.

Retail sales rose only 0.1% in October, according to data released by the Commerce Department today. September retail sales were flat.

Analysts had expected a 0.3% increase in October.

Sales excluding autos, gasoline, building materials and food services, so-called “core retail sales,” rose 0.2% in October, compared to an upwardly-revised 0.1% increase in September.

Analysts had expected a 0.4% increase in core retail sales.

The results, along with today’s tepid producer prices report, call into question the strength of economic activity in the US, and add additional confusion as to the aggressiveness with which the Fed will raise interest rates in the near term. See the full report here.

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