Retail Sales rose 0.4% in October, above the 0.3% gain the market was expecting. The Core reading, which gets plugged into GDP, was weaker than estimates, though this miss was offset by a big revision higher to September’s reading.
What’s the bottom line? Overall, the sales figures for October show that consumer spending remains resilient ahead of the all-important holiday shopping season. Plus, it’s likely that Hurricanes Helene and Milton kept sales figures from being stronger last month.