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  • Americans kept spending in October, but at a slower pace than previous months.

  • The Commerce Department reported Tuesday that retail sales rose 0.3% last month.

  • That's much smaller than the increase in September, which was downwardly revised unless than what economists had expected.

  • Sales of apparel and sporting goods fell more than 4%.

  • Even grocery sales slumped, as did restaurant receipts.

  • But Amazon's prime day shopping extravaganza helped drive sales at online merchants up 3% restraining overall sales growth last month.

  • The resurgence in new co vid 19 infections and declining household income AH, federal weekly unemployment supplement has lapsed.

  • Million's of freelancers and gig workers will soon lose government funded benefits next month, and another government benefits program will lapse at the end of December.

  • Amid those concerns, consumer sentiment unexpectedly fell in early November for the rest of the year.

  • Economists expect moderate growth in retail sales that will contribute to slower economic growth following the sharp historic rebound in the third quarter.

Americans kept spending in October, but at a slower pace than previous months.

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B2 retail growth slower month fell lapse

U.S. retail sales slow as pandemic weighs

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    林宜悉 posted on 2020/11/20
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