Retail sales beat forecasts, but inflation stays put
Wednesday, November 20, 2013 4:23 PM
U.S. consumer spending rose more than expected in October as households bought a range of goods, suggesting upside momentum in the economy early in the fourth quarter, Reuters reported. Although demand is picking up, inflation remains muted, the article said. Other data released on Wednesday showed an unexpected fall in consumer prices last month. Retail sales excluding automobiles, gasoline and building materials increased 0.5 percent last month after advancing 0.3 percent in September, the Commerce Department said. Economists polled by Reuters expected sales to rise 0.3 percent in October.