Retail

October retail sales are expected to be strong, showing economy is back on track

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Pedestrians carry Macy’s shopping bags in San Francisco, California, U.S., on Thursday, Sept. 16, 2021.

David Paul Morris | Bloomberg | Getty Images

Economists predict a boom in October’s retail sales, aided by rising gasoline prices and early holiday shopping.

Retail sales are expected to rise 1.5%, up from September’s 0.7% gain, according to economists polled by Dow Jones. Excluding autos, sales are forecasted to rise 1%, compared to the 0.8% increase a month earlier, Dow Jones found.

The Census Bureau will release the retail sales report on Tuesday, Nov. 16 at 8:30 a.m. ET.

“There is an expectation of a strong number,” said Gargi Chaudhuri, head of iShares investment strategy Americas at…



Source cnbc.com

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