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Sales Rise Less Than Forecast as Americans Save Gas Money

Bloomberg business news

U.S. Retail Sales Miss Estimates With 0.1% October Gain

Updated on

Sales at U.S. retailers rose less than forecast in October as consumers pocketed the money saved after fueling up their cars.

Purchases increased 0.1 percent after being little changed in September, Commerce Department figures showed Friday. The median forecast of 84 economists surveyed by Bloomberg called for a 0.3 percent gain. Receipts at service stations dropped for a fourth consecutive month as gasoline prices declined.