U.S. Retail Sales Fall for First Time Since March as Holiday Season Approaches
Updated Nov. 15, 2023 8:46 am ETConsumers spent less at stores, dealerships and gas stations last month, a sign the summer spending boom is cooling heading into the holiday shopping season.U.S. retail sales fell 0.1% in October from a month earlier. That is the first decline since March and comes after a 0.9% increase in September. Declining retail sales, combined with slower hiring and easing inflation indicate that the economy is cooling after surprisingly strong growth much of this year.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8