U.S. consumers spent less on furniture, building materials, gasoline and sporting goods in October than in September, and, as a result, retail sales overall slipped two-tenths of a percentage point, the U.S. Commerce Department reported on Nov. 14.
Seasonally adjusted, retail sales in October totaled $363.7 billion, compared with $364.5 billion in September.
Retail sales are a closely watched economic indicator since consumer spending accounts for about two-thirds of all U.S. economic activity.
