Retail Sales Climb Despite Government Shutdown

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Nov. 20 (Bloomberg) -- Bloomberg Economics Editor Michael McKee breaks down October retail sales which came in above expectations in spite of the government shutdown. He speaks on Bloomberg Television’s “In The Loop.”

Retail sales for the month of october coming in stronger than expect it, a rise of .4%. consensus was for a rise of .1%. auto stronger as well.

A rise of .2%, versus consensus of weight one percent rise.

Future strengthening a little bit off the back of the data points.

For more cover in context, going to her newsroom, michael mckee is there.

-- going to our newsroom.

Texted someone say it was going to be a boring day for equities?

-- did y someone say it was going to be a boring day for equities?

I do not think so.

The numbers we get, .4% gain comes even as we get a drop in gasoline.

That is a big component of retail sales.

Prices fell for gasoline during the month.

The number you want to keep an eye on is what you call the control group.

Take out cars, building materials, and that is what people are spending at stores him and it is better than expect it.

We were thinking we were going to get up .3% gain, instead we get of .4%. this is also impressive, because this followed a delayed report last month.

Last month should have been stronger.

This suggests good news for holiday retailers.

Alix steel and scarlet fu got their iphones during the months.

. electronic sales are up.

Now those are starting to pick up.

Eating and drinking establishment up a strong one percent.

You cut back if you think you are not going to have a lot of money, you cut back on going out to dinner and going to the bars.

That apparently did not happen.

Americans felt during october then perhaps we estimated with the effects of the government shutdown.

Thank you as always.

Michael mckee joining us on the retail sales data points.

Jcpenney reported earnings earlier, getting worse than expected results.

Julie hyman with me now.

The numbers did not add up, but i see pre-market that jc -- jcpenney moving higher.

All about trajectory when you talk about jcpenney.

Yes, they are bad, but they are getting less bad.

Here you see same-store sales, which look dismal, except they are getting a little bit better.

This text has been automatically generated. It may not be 100% accurate.


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