The Commerce Department released new retail data on Wednesday, revealing how consumers have responded to rapid and stubbornly high inflation in October.
Alba Wheels Up International founder Salvatore Stile says importers and retailers are predicting a supply chain ‘decline coming about.’
Spending at retail stores rose faster than expected in October as consumers continue to open their wallets despite scorching-hot inflation , a measure of how much consumers spent on a number of everyday goods, including cars, food and gasoline, rose 1.3% in October, the Commerce Department said Wednesday. Economists surveyed by Refinitiv expected sales to increase 1%.The October advance is not adjusted for inflation – which rose 0.4% last month – meaning that consumers may be spending the same but getting less bang for their buck.
"Although Target reported disappointing third quarter results, the October retail sales report underscores that a more discerning U.S. consumer continues to spend," said Quincy Krosby, chief global strategist for LPL Financial. "While credit cards are being used more frequently, consumers are taking advantage of earlier-than-usual holiday sales."
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
U.S. retail sales climb 1.3% month-on-month in October - Commerce Department By Investing.com*U.S. RETAIL SALES CLIMB 1.3%, POST BIGGEST MONTHLY GAIN SINCE FEBRUARY 🇺🇸🇺🇸
Lire la suite »
US: Retail Sales rise by 1.3% in October vs. 1% expectedRetail Sales in the United States (US) rose by 1.3% in October to $694.5 billion, the US Census Bureau reported on Wednesday. This reading came in bet
Lire la suite »
China’s October Retail Sales and Industrial Output disappointChina’s October Retail Sales YoY, declined sharply to -0.5% vs. 1.0% expected and 2.5% previous while Industrial Production YoY came in at 5.0% and 5.
Lire la suite »
China's October retail and industrial data miss expectationsThree indicators on China's economy in October missed expectations, according to data released by China's National Bureau of Statistics on Tuesday.
Lire la suite »
Relay Commerce raised $27 million to acquire more e-commerce toolsRelay Commerce, a New York City-based startup, raised $27 million in equity and debt funding earlier this year to fuel more acquisitions of e-commerce software businesses.
Lire la suite »
Retail sales, Lowe's, Target earnings and more: Wednesday's 5 things to knowRetail will be a large focus on Wednesday as big box stores Target and Lowe's report earnings, while retail sales for October are released.
Lire la suite »