October Retail Sales Surge, Defying Expectations and Boosting Holiday Outlook
TL;DR Summary
October retail sales in the U.S. exceeded expectations with a 0.4% monthly increase, driven by a rebound in electronics spending. This growth, the highest since July 2024, indicates resilient consumer spending ahead of the presidential elections. However, excluding motor vehicles and parts, sales rose only 0.1%, missing expectations. The Federal Reserve's potential rate cut expectations decreased after Chair Jerome Powell's comments on the economy's strength, suggesting a pause in rate cuts.
Topics:business#consumer-spending#economy#federal-reserve#interest-rates#tech-spending#us-retail-sales
- October Retail Sales Top Expectations As US Consumers Increase Tech Spending Benzinga
- October retail sales add further complexity to Fed rate cut bets TheStreet
- October retail sales top estimates, September spending revised sharply higher Yahoo Finance
- U.S. retail sales climb again ahead of holiday shopping season. MarketWatch
- Retail Sales Beat Expectations. American Consumers Are a Hardy Bunch. Barron's
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