US retail sales increased on construction materials and autos

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In October, US retail sales rebounded in the building materials and motor vehicles sector.

US retail sales in autos and construction materials bounce back after the recovery efforts for disastrous Hurricane Florence. The US Commerce Department also displayed broad gains in the sales before the holiday shopping season. However, it went well for the consumer spending and for the US economy.

According to sources, retail sales rose by 0.8% after the 0.1% decline in last month. Economists also forecasted about the increment of 0.5% in sales in October. However, the retail sales increased by 0.3 percent excluding the food services, construction materials, gasoline, and automobiles.

The raise was also observed in the sales of service stations, online retailers, and clothing stores. The US public also spent on books and hobbies. However, the furniture purchases were decreased.

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