Americans cut back on retail spending in October, ending six straight months of gains, though the decline was partly driven by falling prices for both gasoline and cars.
Americans cut back on retail spending in October , ending six straight months of gains, though the decline was partly driven by falling prices for both gasoline and cars. September's figure was revised higher from an initial 0.7% gain. Excluding sales of gas and autos, retail sales ticked up 0.1%. The figures reflect a slowdown in consumers' willingness to spend after a blowout summer.
Consumer spending jumped in the July-September quarter, but economists forecast it will slow in the final three months of the year, as credit card debt — and delinquencies — rise and average savings fall. Still, the decline was smaller than analysts expecte
US Retail Sales Decline October Spending Gasoline Cars Consumer Spending Credit Card Debt Delinquencies Average Savings
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