Retail Sales in U.S. Jump More Than Forecast in Broad Advance
U.S. October Retail Sales Surprise With 0.8% Gain
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Sales at U.S. retailers rose more than forecast last month in a broad advance after an even stronger September than initially estimated, showing consumers continue to pump up the economy.
A 0.8 percent rise in October followed an upwardly revised 1 percent jump in the prior month, marking the biggest back-to-back increase since March-April 2014, the Commerce Department reported Tuesday. The median forecast in a Bloomberg survey called for a 0.6 percent gain. Over the last 12 months, retail sales were up the most in almost two years.