U.S. retail sales surge in October after first back-to-back declines in five years
Thursday, 15 November 2018 20:42 WIB | UNITED STATES |ECONOMICRetail SalesEkonomi AS

Sales at U.S. retailers surged in October after the first back-to-back declines in more than five years, though most of the money was spent on gas and new cars and trucks.

Retail sales leaped 0.8% last month, the government said Thursday. Economists polled by MarketWatch had predicted a 0.6% increase.

The increase follows small declines in September and August. The government initially said sales rose slightly in both of those months, but it revised the figures lower in its latest update.

That could also result in the government trimming the initially estimated 3.5% growth in gross domestic product in the third quarter.

Sales jumped 3.5% at gas stations, mostly reflecting higher prices at the pump. More spending on fuel is not a good thing for households, but a recent plunge in oil prices signals that price relief is on the way.

Sales of new cars and trucks increased 1.1%, making auto dealers a big winner.

When Americans have to spend more money on gas or they buy big-ticket items such as cars, they have less cash to spend on other items. Overall retail sales rose a much more modest 0.3% if gas and autos are stripped out.

Department stores reported a 1.3% increase in sales and home centers saw a 1% gain. Sales fell for restaurants and stores that sell home furnishings, reflecting a recent slowdown in the housing market as U.S. interest rates rise.

Sales may have been affected by hurricanes Florence,and Michael, but the government said it could not determine how much.

Source: Marketwatch

RELATED NEWS

Asian markets closed for holiday
Monday, 31 December 2018 09:15 WIB

Pasar finansial di Indonesia, Jepang, Filipina dan Korea Selatan ditutup pada Senin ini dikarenakan untuk hari libur Nasional. AFP...

Consumer inflation posts biggest jump in nine months on higher cost of gas, rent, used cars, CPI shows
Wednesday, 14 November 2018 20:49 WIB

Amerika membayar lebih pada bulan Oktober untuk gas, sewa dan kendaraan bekas, memicu kenaikan terbesar dalam inflasi konsumen dalam sembilan bulan. Indeks harga konsumen naik 0,3% pada Oktober untuk mencatatkan kenaikan terbesar sejak Januari, kata pemerintah Rabu. Ini juga cocok dengan perkiraan ...

Producer Prices in U.S. Increase in October by Most Since 2012
Friday, 9 November 2018 21:04 WIB

Harga produsen AS naik lebih dari perkiraan pada bulan Oktober, lompatan terbesar dalam enam tahun menyusul kenaikan luas dalam biaya untuk barang dan jasa, laporan Departemen Tenaga Kerja menunjukkan Jumat. Indeks harga produsen naik 0,6 persen dari September setelah kenaikan 0,2 persen, dan naik ...

U.S. Service-Industry Expansion Cools From Near-Record Pace
Monday, 5 November 2018 22:23 WIB

Indeks industri jasa AS turun kurang dari perkiraan pada Oktober dari dekat tingkat rekor, menunjukkan momentum ekonomi tertahan kuartal ini, survei Institute for Supply Management menunjukkan Senin. Indeks non-manufaktur turun menjadi 60,3 (estimasi 59) dari 61,6; bacaan di atas 50 menunjukkan eks...

Housing costs nudge inflation higher in September, CPI shows
Thursday, 11 October 2018 19:52 WIB

Biaya sewa dan kepemilikan rumah yang lebih tinggi mendorong harga konsumen lebih tinggi pada bulan September, namun inflasi secara lebih luas melambat setelah kenaikan terakhir. Indeks harga konsumen naik 0,1% pada bulan September untuk mencatatkan kenaikan keenam berturut-turut, kata pemerintah K...

ANOTHER NEWS
Hong Kong Stocks End Week on a Positive Note (Review)
Saturday, 25 May 2019 03:23 WIB Shares finished Friday with a slight gain, bringing another tough week to a close but investors remain on edge owing to rising China-US tensions. The Hang Seng Index rose 0.32 percent, or 86.80 points, to 27,353.93. The benchmark Shanghai...

DISCLAIMER

Seluruh materi atau konten yang tersaji di dalam website ini hanya bersifat informatif saja, dan tidak dimaksudkan sebagai pegangan serta keputusan dalam investasi atau jenis transaksi lainnya. Kami tidak bertanggung jawab atas segala akibat yang timbul dari penyajian konten tersebut. Semua pihak yang mengunjungi website ini harus membaca Terms of Service (Syarat dan Ketentuan Layanan) terlebih dahulu dan dihimbau untuk melakukan analisis secara independen serta memperoleh saran dari para ahli dibidangnya.