U.S. retail sales were unexpectedly flat in October, as consumers appeared reluctant to open their wallets ahead of the holiday season.
Change in retail sales came in at zero percent, from a downwardly revised 0.1 percent increase in September, according to data released by the Department of Commerce’s Census Bureau on Dec. 16.
The market consensus pointed to a reading of 0.1 percent.
A 1.6 percent decline in receipts at motor vehicle and parts dealers was a significant factor in the lackluster reading. Transactions at building material and garden equipment dealers and gasoline stations also fell by 0.9 percent and 0.8 percent, respectively.
Conversely, there were higher sales at furniture and home furnishings vendors (2.3 percent); sporting goods, musical instruments, and bookstores (1.9 percent); and digital retailers (1.8 percent)….
US Consumers Took a Breather in October as Retail Sales Stalled
