U.S. Retail Sales Decline 0.2% In October

Nov. 14, 2006
It's the second consecutive decrease for a closely watched indicator.

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.

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