Headline Roundup • November 16th, 2021
Despite Inflation, Retail Sales Jump More Than Expected
Summary from the AllSides News Team
Retail sales rose 1.7% in October amid record-breaking inflation and a supply chain crisis, according to Commerce Department data released Thursday.
Economic analysts across the spectrum were expecting a roughly 1.4% increase in October following September's 0.8% jump. The reading was up 16.3% from a year ago. The retail sales metric includes consumer spending at restaurants and physical stores, as well as online. The jump comes despite the highest level of consumer inflation experienced in the U.S. in 30 years, and as issues with supply chains are causing backlogs and potential goods shortages. The data released Thursday was not adjusted for inflation.
The data was covered across the political spectrum, sometimes with different framing. Some coverage, particularly from right-rated sources, framed the rise in sales as the result of consumers trying to get their shopping done early while anticipating holiday-season goods shortages. Some reports from left- and center-rated sources said the jump simply indicates that people are willing to spend higher prices as wages improve.
Featured Coverage of this Story
Photographer: David Paul Morris/Bloomberg
U.S. retail sales rose in October for a third month, signaling households continue to spend even with the fastest inflation in decades.
The value of overall retail purchases increased 1.7% last month, the most in seven months, following an upwardly revised 0.8% advance in September, Commerce Department figures showed Tuesday. Excluding gas and motor vehicles, sales gained 1.4% in October. The figures aren’t adjusted for price changes.
The median estimate in a Bloomberg survey of economists called for a 1.4% advance in overall retail sales. The S&P 500 advanced while...
U.S. shoppers accelerated their level of spending in October even as the prices of goods jumped at their fastest pace since the 1990s, the Commerce Department reported Tuesday.
Retail sales, a measure of how much consumers spent on goods ranging across categories from autos to sporting goods and food and gas, increased 1.7% for October, compared with 0.8% the previous month.
Excluding autos, sales also increased 1.7%, according to the Census Bureau advance estimate.
The two numbers were above the Dow Jones estimates of 1.5% for the headline print and 1%...
Consumer spending accelerated in October as shoppers kicked off the holiday shopping season earlier than usual due to the supply chain bottlenecks.
Retail sales, a measure of spending at restaurants, stores and online, rose 1.7% last month, according to the Commerce Department. Analysts surveyed by Refinitiv were expecting a 1.4% increase. The reading was 16.3% above year-ago levels.
September’s reading was revised up by 0.1 percentage points to 0.8%.
"October retail sales growth was led by holiday-friendly categories such as nonstore retailers (e-commerce shops such as Amazon.com) and electronics stores," said Ted...
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