Updated Nov. 15, 2023 8:46 am ET
Consumers 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.
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