Gain in U.S. Retail Sales Last Month Signals Steady Demand

U.S. retail sales increased last month after a bigger September advance than previously estimated, indicating resilient demand heading into the holiday shopping season, according to Commerce Department figures released Wednesday.

The broad-based advance in October sales and a stronger hand-off from an upwardly revised September show American consumers will continue to fuel the economy in the fourth quarter. Steady hiring, rising asset values and limited inflation are underpinning consumer spending.