Retail Sales Research Brief
October Retail Sales Growth Returns to More Traditional Levels
Retail sales gains slow. Buoyed by Amazon Prime Day sales, retail sales inched up 0.3 percent in October. Core retail sales ticked up 0.2 percent last month as the pace of consumer spending gains returned to normal levels. Future gains in several sectors remain in doubt due to a flurry of new restrictions across the country as coronavirus case counts rise. New York, New Jersey and New Mexico have already announced tighter limitations due to higher hospitalization and infection rates. Several counties in California have also moved into elevated restriction definitions. Over the coming months, more localities are anticipated to enact more stringent orders to prevent the spread of the virus.