US retail sales rise above forecasts in October

US retail sales volumes grew by 0.3% month-on-month in October according to the US Department of Commerce.

That was a tenth of a percentage point more than expected by economists.

Excluding sales of automobiles they increased by 0.3% as well, versus forecasts for a rise of 0.4%.

If sales of both automobiles and gasoline are removed then sales increased by 0.6% month-on-month (consensus: 0.4%). The previous month´s gain was revised higher to show a rise of 0.1%, instead of the 0.1% drop initially estimated.