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- US: Retail Sales rise by 1.3% in October vs. 1% expected
US: Retail Sales rise by 1.3% in October vs. 1% expected
- Retail Sales rose at a stronger pace than expected in October.
- The US Dollar Index edged higher with the initial reaction.
Retail Sales in the United States (US) rose by 1.3% in October to $694.5 billion, the US Census Bureau reported on Wednesday. This reading came in better than the market expectation for an increase of 1%.
"Total sales for the August 2022 through October 2022 period were up 8.9% from the same period a year ago," the publication read.
Retail Sales ex Autos expanded by 1.3% in the same period, compared to analysts' estimate of 0.4%.
Market reaction
With the initial reaction, the US Dollar Index extended its recovery and was last seen losing 0.27% on the day at 106.28.
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