Price Hikes And Shortages Didn't Stop US Shoppers In October
NDTV
Retail sales rose 1.7 percent in October, the Commerce Department reported, the biggest month-on-month jump since March and above expectations.
Sales remained brisk at American businesses last month, despite shortages of some goods and a wave of inflation that has pushed prices higher, government data released Tuesday showed.
Retail sales rose 1.7 percent in October, the Commerce Department reported, the biggest month-on-month jump since March and above expectations.
A range of businesses propelled the indicator measuring the shopping habits of consumers in the world's largest economy, and likely reflected at least in part a rush to buy ahead of the holidays, according to analysts.
Auto dealers saw sales rise 1.8 percent as cars remain scarce and pricy due to the worldwide shortage of crucial semiconductors, while gas station sales climbed 3.9 percent amid rising energy prices as global economies recover, the data showed.
