US: Retail Sales rise by 1.3% in October vs. 1% expected

Retail Sales rose at a stronger pace than expected in October.
The US Dollar Index edged higher with the initial reaction.

Eren Sengezer FXStreet

Retail Sales in the United States (US) rose by 1.3% in October to $694.5 billion, the US Census Bureau reported on Wednesday. This reading came in better than the market expectation for an increase of 1%.

"Total sales for the August 2022 through October 2022 period were up 8.9% from the same period a year ago," the publication read.

Retail Sales ex Autos expanded by 1.3% in the same period, compared to analysts' estimate of 0.4%.

Market reaction

With the initial reaction, the US Dollar Index extended its recovery and was last seen losing 0.27% on the day at 106.28.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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