US retail sales miss expectations in October

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%.