US Retail Sales Rebound

U.S. retail sales have rebounded slightly more than anticipated in October, according to Bloomberg. The gains are mostly due to auto dealers and gas stations. Reportedly the value of overall sales increased by 0.3 percent, up from a 0.3 percent drop in September, according to Bloomberg.

The “control group” subset, which excludes restaurants, building material stores, gas stations and car dealers, increased by 0.3 percent, as well.

Despite this seemingly positive news, seven of the 13 other major categories, like furniture and food service, saw a decrease. Bloomberg reports that furniture and home furnishing stores saw a decline of 0.9 percent, while “food services and drinking places” decreased by 0.3 percent.