Retail Sales Ticked Down in October

Retail and food services sales for October were an estimated $411.6 billion, a decrease of 0.3 percent from September, but up 3.8% from October 2011, the U.S. Census Bureau announced today. Click here to open a PDF of the data. The month-to-month number is within the margin of error.

The Census Bureau said it was not able to isolate the effects of Superstorm Sandy on sales since it measures the national picture. The bureau said, however, that it had received indications of both positive and negative effects on sales from the hurricane that walloped the East Coast. Some companies had to close or scale back because of the storm while some reported increased sales of storm-related supplies and new customers as evacuees purchased items in new areas.

Although October retail and food services sales did decrease in October, they still came in 3.8% higher (with a 0.7% margin of error) than October 2011, showing an incremental growth in the economy. According to a Bloomberg report, economists were expecting a 0.2% downtick in October from September. 


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2112386, ~/Articles/ArticleHandler.aspx, 10/20/2014 7:04:08 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement