U.S. Retail Sales Pick Up, Wholesale Inflation Falls

Nov. 15, 2011
Demand for electronics and appliances help retail sales beat forecasts.

U.S. retail sales rose at a moderate pace in October, led by electronics and appliances, while inflation at the wholesale level eased, government data showed Tuesday.

Retail sales beat analyst forecasts with a 0.5% jump from September, when sales spiked 1.1%.

And excluding sales of automobiles and gasoline, retail sales rose a strong 0.7% in October.

Sales in electronics and appliance stores jumped 3.7% in October from September, the sharpest rise in two years.

On a year-over-year basis, sales were up a solid 7.2%.

A separate government report on Tuesday indicated easing pressures on retail prices in the wholesale pipeline.

The Labor Department said its producer price index fell 0.3% in October, after a 0.8% increase in September.

Most of the decline was due to a 1.4% drop in energy prices.

Prices for consumer foods edged up 0.1% in October, the fifth consecutive monthly increase, the department said.

The so-called "core" PPI, the index minus foods and energy, was unchanged following 10 straight months of advances.

Wholesale inflation on an annual basis was up 5.9% from October 2010.

Economists point out that inflation is being constrained by weak activity in the world's biggest economy, where consumers, the traditional growth engine, are under pressure amid high unemployment.

Copyright Agence France-Presse, 2011

Popular Sponsored Recommendations

Process Mining For Dummies

Nov. 19, 2023
Here it is. Everything you need to know about process mining in a single book, written in the easy-to-understand, hard-to-forget style that ‘For Dummies’ manages so effortlessly...

Modern Edge Computing Accelerates Smart Manufacturing Initiatives for Discrete Manufacturers

Oct. 22, 2023
Discover how Edge Computing platforms are a requisite for discrete manufacturers to solve production challenges, accelerate digitalization, and establish a reliable infrastructure...

Why DataOps may be the key to unlocking the full potential of digital transformation

Nov. 3, 2023
Read the 2023 market survey conducted by IndustryWeek

Digitally Transforming Data and Processes With Product Lifecycle Management

Oct. 29, 2023
Manufacturers face increasing challenges in product development as they strive to consistently deliver improved results. Discover how industry leaders are improving time-to-market...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!