Retail sales in October were up despite downward headwinds from lower gasoline prices.
Retail sales in October rebounded 0.3 percent after declining 0.3 percent in September. Analysts forecast a 0.2 percent rise for October.
Auto sales made a partial rebound of 0.5 percent after a 1.2 percent drop in September and jump of 1.8 percent in August, largely reflecting unit new motor vehicle sales. Excluding autos, sales gained 0.3 percent after no change in September. Expectations were for a 0.2 percent boost.
Gasoline station sales fell 1.5 percent in October after decreasing 0.8 percent the prior month. Excluding both autos and gasoline sales jumped 0.6 percent in October after a 0.1 percent rise the month before. The median market forecast was for 0.5 percent.
Within the core, moderate strength was seen in nonstore retailers, sporting goods & hobbies, food services & drinking places, and miscellaneous store retailers. Electronics & appliance stores declined along with department stores.