Retail Sales Take Biggest Jump in Seven Months
October U.S. retail sales jumped 1.2%, the biggest gain in seven months, the Commerce Department said Monday.
The fourth straight increase followed a revised 0.7% gain in September that was larger than the 0.6% originally reported.
The upturn topped economists’ forecasts of a 0.7% increase, Bloomberg reported.
Excluding automobiles, sales rose 0.4%, matching forecasts.
Nine of 13 categories showed increases, including a 5% gains at auto dealers, Bloomberg reported.
Almost all trucking operations depend on the health of retail sales because such sales involve nearly every type of cargo.
