MNI DATA IMPACT: US October Retail Sales +0.3%, Above Expectations>

--Retail Sales Ex. Motor Vehicle +0.2; Ex. Mtr Veh and Gas +0.1% 

By Alexandra Kelley

     WASHINGTON (MNI) - The value of retail sales jumped in October, 

slightly above the 0.2% gain markets had expected. This followed a 

surprisingly low 0.3% drop in September, according to data released 

Friday by the Commerce Department. 

     Excluding motor vehicles, retail sales grew 0.2% after dropping by 

0.1% in September, and the y/y rate rose by 2.8%. Control group sales 

excluding motor vehicle, gasoline station, and building material sales 

increased 0.2%. 

     Here are some of the key takeaways from the data: 

     -  Gasoline station sales drove headline growth this month, with 

sales increasing by 1.1% after September's 0.1% decline. This is the 

highest sales increase for gasoline stations seen since July 2019. Motor 

vehicle sales also improved, rebounding to 0.5% growth after falling 

1.3% in September. Sales excluding gasoline and motor vehicles grew by 

0.1%. 

     -  Nonstore retailers, referring to digital stores and mail-order 

purchases, increased by 0.9% in October after slowing to a 0.2% gain in 

September. But clothing and accessories sales fell by 1.0% in October 

after a 0.3% increase in September preceded by a 1.2% drop in August.  

     -  Building material and garden equipment sales saw a 

continued decline of 0.5% after falling by 1.8% in September.

     - Food services & drinking places slipped by 0.3% after 

a 0.8% gain recorded in September. A high year/year rate underlying 

monthly changes shows 4.7% growth. 

              ** MNI Washington Bureau: 202-371-2121 ** 

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