Retail Sales Rise 0.4% in October, Signaling Economic Momentum Ahead of Holiday Season

Retail sales in the U.S. increased by 0.4% in October, indicating resilience in consumer spending as the holiday shopping season approaches. The Census Bureau reports estimated sales of nearly $719 billion for the month, slightly surpassing analysts’ expectations. This rise, coupled with a 2.3% year-over-year increase in sales for the August-September period, reflects steady economic momentum despite inflationary pressures.

Key Drivers of Growth

Analysts attribute the October sales bump to several factors, including strong demand for. . .