Retail Sales Surprise to Upside in October, but Outlook Gloomy

Retail Sales Surprise to Upside in October, but Outlook Gloomy
A customer shops in a Kroger grocery store in Houston, Texas, on July 15, 2022. Photo by Brandon Bell/Getty Images
Tom Ozimek
Updated:
0:00

Retail sales beat market forecasts in October as Americans bought more big-ticket items like cars and furniture, but the outlook for the all-important holiday shopping season looks gloomy, as retail giant Target warned of a consumer demand slump.

The Department of Commerce reported on Nov. 16 that retail sales rose 1.3 percent last month, beating market forecasts of 1.0 percent. In September, retail sales were flat, at 0.0 percent.

Tom Ozimek
Tom Ozimek
Reporter
Tom Ozimek is a senior reporter for The Epoch Times. He has a broad background in journalism, deposit insurance, marketing and communications, and adult education.
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