US Retail Sales Lose Steam in October After Hurricanes

Sales rose 0.4 percent in October from a month prior to $718.9 billion, according to Department of Commerce data.

Retail sales in the United States slowed in October, according to government data released Friday, with analysts noting that devastating hurricanes in recent months likely disrupted consumption.

Sales rose 0.4 percent in October from a month prior to $718.9 billion, according to Department of Commerce data.

This was a smaller uptick than September’s revised 0.8 percent increase.

Consumer spending has helped to power the US economy over the past year despite elevated interest rates as the Federal Reserve battled to rein in inflation.

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