Retail sales saw their 13th straight month of gains in October even as high gas prices continued, according to the CNBC/NRF Retail Monitor, powered by Affinity Solutions, released today by the National Retail Federation (NRF).
“Retail sales edged higher in October as a strong Halloween season and early winter holiday promotions pulled demand forward,” NRF President and CEO Matthew Shay said. “Households are managing budgets carefully, timing purchases around special offers and sales events in order to stretch their dollars. Retailers continue to offer promotions and value pricing to keep everyday items and holiday gifts affordable.”
Total retail sales, excluding automobile dealers and gasoline stations, were $561.7 billion in October, up 0.15% month over month and up 3.57% year over year, both seasonally adjusted, according to the Retail Monitor. That compared with $560.8 billion in September, which was up 0.28% month over month and up 4.05% year over year.
