October furniture stores sales increase 4.4%

Cornelia Mascio
Novembre 15, 2017

US retail sales increased last month after a bigger September advance than previously estimated, indicating resilient demand heading into the holiday shopping season, according to Commerce Department figures released Wednesday.

Purchases at automobile dealers climbed 0.7% after surging 4.6%. The change from August to September 2017, already a very strong month, was revised from up 1.6 percent to up 1.9 percent. Steady hiring, rising asset values and limited inflation are underpinning consumer spending.

Estimated furniture and home furnishings store sales reached $9.7 billion in October, up from a revised $9.3 billion in October 2016, the government said.

The report also showed a decline in gasoline costs weighed on receipts at service stations.

The Commerce Department said retail sales rose by 0.2 percent in October after spiking by an upwardly revised 1.9 percent in September.

Excluding the increase in auto sales, retail sales still inched up by 0.1 percent in October following a 1.2 percent surge in September. Sales for non-store retailers - primarily by e-commerce and catalog businesses - increased 6.8% from October a year ago for the third largest gain but were down 0.3% from September.

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