US retail sales miss expectations in October

US retail sales rose by less than expected in October, figures released on Friday showed.

According to data released by the US Commerce Department, retails sales grew 0.1% last month compared with a 0.1% gain in the previous month falling short of analysts’ expectations for a 0.3% rise.

Excluding the automobile industry, retail sales rose 0.3% compared with a downwardly revised 0.4% decline in September and expectations for a 0.4% gain, while the so-called control group sales that factor into GDP rose 0.2%.