WASHINGTON, Nov. 15 (Xinhua) -- U.S. retail sales rose modestly in October as consumers increased purchases of motor vehicles, sporting goods and a range of other goods, the Commerce Department reported Wednesday.
Retail sales rose 0.2 percent from the previous month to a seasonally adjusted 486.6 billion U.S. dollars in October, following a revised 1.9 percent gain in September, the Commerce Department said. Year on year, total retail sales rose 4.6 percent last month.
In October, purchases of motor vehicle and parts rose 0.7 percent, while sales at sporting goods, book and music stores rose 1.5 percent. Excluding volatile auto sales, total retail sales edged up 0.1 percent from the previous month.
As consumer spending is a major driver of U.S. economic growth, the October retail sales data suggests that U.S. economic growth is likely to remain strong in the fourth quarter of the year.
The U.S. economy is expected to expand at 3.2 percent in the fourth quarter, following a 3 percent growth rate in the third quarter, according to the latest forecast from the Federal Reserve Bank of New York. Enditem
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