Retail Sales Beat Expectations, Growing By 0.5% In October

Payless Shoe Store Aisle High Heels Running Shoes Footwear Retail

Photo: AP Photo/Damian Dovarganes

Retail sales for October beat expectations, with headline data coming in at 0.5% versus an estimated 0.3%.

Sales less autos came in at 0.6% (versus consensus of 0.3%), and sales ex autos and gas came in at 0.7% (compared to expectations of 0.2%.

Headline sales grew 1.1% and growth ex auto 0.5% in September. That data marked a big beat for sales, pointing to steady consumer spending growth.

While sales grew by a smaller margin in October than in September, retail still seems to be holding steady, as this chart demonstrates:

retail sales month to month october 2011

The full press release can be found here.

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