Retail Sales Rise 0.3% in October, After Falling in September
The latest reading on the retail sales numbers reported on Friday morning by the Commerce Department showed a 0.3% increase in sales, beating analyst estimates.
Consumers spent more money in October. The latest reading on the retail sales numbers reported on Friday morning by the Commerce Department showed a 0.3% increase in sales, beating analyst estimates of 0.2%. Consumers cut spending on gasoline, down 1.5%, as gas prices dipped below $3 per gallon. There was also a 1.6% drop in electronics and appliances spending but a staggering 1.9% increase in sales for non-store retailers. TheStreet's Scott Gamm speaks with ITG Chief Economist Steve Blitz to discuss the latest retail numbers and the state of the consumer heading into the holiday shopping season.
