United States Retail

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United States: Retail sales growth rebounds in October

November 14, 2014

In October, growth in retail sales increased 0.3% over the previous month, in nominal terms. The print contrasted the 0.3% decline recorded in September and slightly overshot market expectations of a 0.2% increase. The result was driven by higher sales in most categories, including sporting goods and music stores, restaurants, and health and personal care retailers. Consumers are benefitting from increased purchasing power amid a steady decline in gas prices.

Retail sales excluding cars and gas—a closely watched subcategory of the retail trade index—increased 0.6% in October over the previous month. The reading was up from the 0.1% expansion recorded in September and beat market expectations of a 0.5% increase.

Retail sales rose 4.1% in annual terms in October, which followed the 4.4% increase recorded in September. Moreover, the annual trend increased, with annual average growth in retail sales ticking up from 3.8% in September to 3.9% in October.

FocusEconomics Consensus Forecast panelists expect private consumption to grow 2.4% in 2014, which is unchanged from last month’s forecast. For 2015, the panel sees private consumption increasing 2.8%, which is also unchanged from last month’s projection.

Author:, Economist

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United States Retail Chart

USA Retail October 2014

Note: Month-on-month and year-on-year variation of nominal retail sales in %.
Source: United States Census Bureau

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