RETAIL SALES FELL IN OCTOBER FOR FIRST TIME SINCE MARCH

Key Points:

  • Retail sales, a measure of purchases at stores, restaurants and online, fell 0.1% in October from September.
  • This was the first monthly decline since March.
  • The August to September percent change was revised up to 0.9% from 0.7%.
  • Excluding autos, retail sales rose by 0.1% over the month.
  • Retail sales were 2.5% above October 2022, below CPI data released earlier this month showing prices have increased 3.2% in the last year.
  • Retail sales are not adjusted for inflation and reflect price differences as well as purchase amounts.
  • Total sales for the August 2023 through October 2023 period were up 3.1% from the same period a year ago.
  • The Right Facts will continue to monitor retail sales.