Retail Sales Fall 0.3% in October
etail sales declined 0.3% in October as Americans bought fewer automobiles and paid less for motor fuels, the Commerce Department reported Friday.
Purchases at retailers fell to $318.5 billion after a revised 0.4% decrease in September. Excluding vehicle sales, retail sales rose 0.2%, same as the month before.
Almost all trucking operations depend on the health of retail sales because such sales involve nearly every type of cargo.
Service stations' sales fell 1.6% last month after a 0.4% rise in September. The average price for all grades of gasoline was $1.58 a gallon in the last week of October, compared with $1.64 a gallon a month earlier, according to the Energy Department.
Commerce also said sales at auto dealerships fell 1.9% to $74.5 billion.
Meanwhile, sales at general merchandise stores, which include department stores, were unchanged while sales at clothing and accessory stores rose 0.1%.
Sales at electronics and appliance stores were unchanged, while furniture sales rose 1%. Purchases at sporting goods, hobby, book and music outlets fell 2.2%.
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