October retail sales, excluding automobiles, gas stations and restaurants, increased 2.5 percent seasonally adjusted over September, according to the National Retail Federation.
“Consumer spending is growing as we head into the holiday shopping season, and the timing couldn’t be better,” NRF President and CEO Matthew Shay said. “Consumers seem to have found some sense of confidence, driven, in part, by lower gas prices. While positive gains were seen in most retail categories, retailers will continue to rely on heavy promotions to drive traffic and sales this holiday season.”
October retail sales, released recently by the U.S. Census Bureau, which include non-general merchandise categories such as automobiles, gasoline stations, and restaurants, increased 0.4 percent seasonally adjusted month-to-month, and 3.9 percent adjusted year-over-year.
The report also found building material and garden equipment and supplies retailers’ stores’ sales decreased 1.9 percent seasonally adjusted.
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