Retail Sales Slip 0.3% in October

Business

0  Updated at 1:02 pm, November 14th, 2012 By: ABC Digital
Share This Story

Getty Images(WASHINGTON) — After three months of gains, the U.S. Commerce Department said Wednesday that retail sales were down three-tenths of a percent last month.

“It really does look like the consumer paused a little bit in October,” said economist Joel Naroff with Naroff Economic Advisors.

It’s unclear at this point what impact, if any, Superstorm Sandy had on purchases at the end of October, especially on the East Coast.

“This is a cautionary number that maybe consumer demand is not growing as rapidly as we’d like to see,” Naroff said.

Copyright 2012 ABC News Radio

Stories You May Be Interested In:

Upgrade your summer lemonade

Tara Bench, KSL.com

Dow plunges over 600 points as U.K. ‘earthquake’ crushes global markets

Jethro Mullen Ivana Kottasova and Patrick Gillespie, CNN