Retail Sales Less Than Expected In October
RETAIL SALES GREW AT THE SMALLER PACE THAN EXPECTED FOR OCTOBER
(CNN) – Heading into the holiday shopping season; U.S. retail sales could use a boost.
Economists are worried after shoppers spent less than expected in October.
The Census Bureau reported retail sales grew at a slower pace than predicted, climbing only point three percent on a seasonally adjusted basis.
It wasn’t all bad news; online sales jumped more than 3%.
And retails sales are $26 billion above pre-pandemic levels from February.
But with winter approaching and COVID cases rising, brick and mortar stores could take another hit.
Many states are putting restrictions back in place and millions are still unemployed.