Retail Sales Fall 0.3% in October

Click here to write a Letter to the Editor.

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.



The growth in consumer spending is slowing after reaching a 6.6% annual rate last quarter, Bloomberg said.

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%.

10842