Census Bureau – One America News Network

Motor vehicles, electronic goods lift US retail sales in October

Retail sales increased slightly more than expected in October as households boosted purchases of motor vehicles and electronic goods.

Consumer spending increased slightly less than expected in August, suggesting some moderation in economic growth in the third quarter.

Sales of new U.S. single-family homes dropped to a six-month low in May as a jump in mortgage rates weighed on demand.

U.S. retail sales barely rose in May, suggesting that economic activity remained lackluster in the second quarter.

U.S. wholesale inventories fell, confirming that inventory investment was a drag on economic growth in the first quarter.

New home sales slipped 0.3% to a seasonally adjusted annual rate of 662,000 units last month.