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U.S. Retail Sales Jump by Most Since March, Topping Forecasts

Economic IndicatorsNov 16, 2021 08:36AM ET
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© Bloomberg. A shopper wearing a protective mask waits to check out at a Home Depot store in Pleasanton, California, U.S., on Monday, Feb. 22, 2021. Home Depot Inc. is expected to release earnings figures on February 23. Photographer: David Paul Morris/Bloomberg

(Bloomberg) -- U.S. retail sales rose in October for a third month as higher prices boosted merchant receipts and household demand remained resilient. 

The value of overall retail purchases increased 1.7% last month, the most in seven months, following a upwardly revised 0.8% advance in September, Commerce Department figures showed Tuesday. Excluding gas and motor vehicles, sales gained 1.4% in October. The figures aren’t adjusted for price changes.

The median estimate in a Bloomberg survey of economists called for a 1.4% advance in overall retail sales.

The broad-based gain in spending highlights how elevated savings and rising wages have helped Americans sustain a robust pace of merchandise spending. Though total retail sales are well-above pre-pandemic levels, a recent inflation-driven collapse in consumer sentiment risks a future tempering in demand.

U.S. prices are rising at the fastest pace in 30 years as businesses pass on growing labor and input costs to customers, but it’s hard to tell just how much that’s impacting demand since the figures aren’t adjusted for inflation. Inflation-adjusted consumer spending data for October will be released next week.

Results from Walmart (NYSE:WMT) Inc. and Home Depot Inc. (NYSE:HD) earlier on Tuesday showed households are broadly maintaining robust demand for merchandise even as higher inflation squeezes purchasing power. Comparable sales at Walmart in the latest quarter exceeded forecasts while home-improvement retailer Home Depot reported stronger-than-expected results.

©2021 Bloomberg L.P.

U.S. Retail Sales Jump by Most Since March, Topping Forecasts
 

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Comments (11)
Jack Manuel
Jack Manuel Nov 16, 2021 1:11PM ET
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MICROSOFT BUSSIN HIT NOW UP TO 3 by FRIDAY
Mart Bab
Rubberduck1973 Nov 16, 2021 11:21AM ET
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Omg. With inflation at 5 this is not good news just wait for the adjusted report
hans gaaikema
hans gaaikema Nov 16, 2021 10:00AM ET
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if sales are up 2% of which price has caused 6% than volumes are -4%. people are reducing their groceries as inflation has reduced their buying power.
Paul Binder
Paul Binder Nov 16, 2021 10:00AM ET
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1.7 in 1 month. 6 in year. If pace continued even at an even 1% that would be 12% increase for year.
Paul Binder
Paul Binder Nov 16, 2021 10:00AM ET
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1.7 in 1 month. 6 in year. If pace continued even at an even 1% that would be 12% increase for year.
Frederick Chotsky
Chotsky Nov 16, 2021 10:00AM ET
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"if the pace continued" .. who's to say it's going to continue? Retail sales is never linear. Your calculation is far too over-simplified.
Jamie An
Jamie An Nov 16, 2021 9:52AM ET
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US leader Biden almost sit on his knee and begging for peace to Xi. Like Afghanistan he threw some belief of Taiwan and asking Chinese mercy.
Mart Bab
Rubberduck1973 Nov 16, 2021 9:52AM ET
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Please respond in Russian. Your native language
Jamie An
Jamie An Nov 16, 2021 9:52AM ET
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Are U happy to be a 2st grade citizen after Chinese. ha ha
Mart Bab
Rubberduck1973 Nov 16, 2021 9:52AM ET
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Jamie An  well I am not a Russian troll. So pretty happy
Kaveh Sun
Kaveh Sun Nov 16, 2021 9:20AM ET
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Spinning: sale increased 1.7% while consumer inflation was 6.2%. In total This was a decrease in consumers speding/sale
Paul Binder
Paul Binder Nov 16, 2021 9:20AM ET
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6.2 for the year. this is 1.7 in one month. 12 x 1.7 = 20.4.
Kristof Naessens
Kristof Naessens Nov 16, 2021 9:11AM ET
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And how much would it be if inflation was not counted in?
Ayumastura PinkLady
Ayumastura PinkLady Nov 16, 2021 9:06AM ET
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everything seems negative nowadays. If increase, due to inflation so not good. If decrease means decline in growth so not good.
New Jazenevd
New Jazenevd Nov 16, 2021 9:01AM ET
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At least, Bloomberg journalist has decency to write that the results are not adjusted for higher prices. Reuters, more open propaganda source, did not do even this in similar article posted here.
Steffen vdm
Steffen vdm Nov 16, 2021 8:55AM ET
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"higher prices boosted merchant receipts". That says it all, doesn't it?
MK MK
MK MK Nov 16, 2021 8:45AM ET
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Those sheeplists must be really silly. How could sales not be up if inflation is above 6%?
Jan Buyle
Jan Buyle Nov 16, 2021 8:44AM ET
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Sales rise because inflation goes through the roof... in fact it is the prices that rises, not the sales quantity...
me ish
me ish Nov 16, 2021 8:44AM ET
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yes, the sales unit / quantity is almost certainly down and also much of this is on rising credit card debt - the US consumer is stocking up for hard times ahead and getting their Christmas shopping done and out of the way now in case shelves are empty later - they've basically brought forward December and November sales into October - probably panic buying as in China
 
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