US advance retail sales rise less than expected in October

FXStreet (Mumbai) - The US retail sales rose slower than expected in October despite the employment reached a 10-month high in October.

The headline figure rose 0.1% in October, compared to the expected rise to 0.3% from September’s 0.1%. Core retail sales, which are used to calculate gross domestic product and which exclude categories such as autos, gasoline stations and building material rose 0.2%, missing the estimate of a 0.4% rise.

Meanwhile, a data released by the Labor Department showed the Wholesale prices unexpectedly dropped 0.4% in October mainly due to drop in prices of eggs and meats.

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