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U.S. October retail sales better than forecasts

Staff Writer |
U.S. retail sales volumes grew by 0.8% month-on-month in October to reach $465.9bn and were 4.3% higher versus a year ago, according to the Department of Commerce.

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Economists had forecast a rise of 0.6% over the month. Excluding automobiles sales were also 0.8% higher versus September (consensus: 0.5%).

Sales of motor vehicles increased by 1.1% and those of gasoline stations by 2.2%, while furniture and home furnishing stores put in the weakest performance with a drop of 0.9% agains the previous month.

September's rise in total sales was revised upwards, from a preliminary estimate of 0.6% to 1.0%.