U.S. October Retail Spending Growth Slows: Consumer Burden from High Prices
- 1Seasonally adjusted total retail spending in October recorded $561.7 billion, an increase of only 0.2% from the previous month.
- 2Core retail spending in October, excluding dining out, rose 0.3% from the previous month to $454.2 billion.
- 3Signs showed that U.S. consumers are struggling due to high prices.
So what's the key point?
The amount of goods Americans bought in October increased by only 0.2% because prices have gone up. This means consumers are finding it difficult to manage their finances.
Source CNBC · View original ↗
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