U.S. retail sales rebound, but consumer spending slowing [Reuters]
Walmart Inc. (WMT)
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Source: Reuters
U.S. retail sales rebound, but consumer spending slowing | Reuters 6 Min Read WASHINGTON (Reuters) - U.S. retail sales rebounded sharply in October as purchases of motor vehicles and building materials surged, but data for the prior two months was revised lower and the underlying trend suggested that consumer spending was probably slowing down. Still, the report on Thursday from the Commerce Department showed broad gains in sales ahead of the holiday shopping season, which bodes well for consumer spending and the overall economy as the fourth quarter gets under way. “This morning’s release confirms our expectations of a strong holiday season,” said Tim Quinlan, a senior economist at Wells Fargo Securities in Charlotte, North Carolina. “But, as the calendar flips to 2019, we expect a further moderation in spending, as the boost from tax cuts will start to fade for consumers.” Retail sales increased 0.8 percent last month. Retail sales in September slipped 0.1 percent instead of rising
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