U.S. retail and food service sales last month fell 2.8% in October, in their sharpest-ever decline, according to a U.S. Commerce Department Census Bureau report.
The October fall– to US$363.7 billion in total sales – followed month-over-month declines of 1.3% in September, 0.4% in August and 0.1% in July, making the current retail slump the longest since the data series began in 1992.
Total sales excluding motor vehicle and part dealers fell 2.2%. The only gains were at miscellaneous retailers (+0.7% ), health and personal care stores (+0.4%), and restaurants (+0.3%), the report said. Grocery-store sales were unchanged from September.
Back to Breaking News