Retail sales, producer prices fare poorly in October

Washington

US retail sales rose less than expected in October while producer prices dropped in October for a second straight month.

A surprise decline in automobile purchases hit retail sales, suggesting a slowdown in consumer spending that could temper expectations of a strong pickup in fourth-quarter economic growth.

The Commerce Department said on Friday retail sales edged up 0.1 per cent last month after being unchanged in September.

Sales at car dealerships fell 0.5 per cent last month after rising 1.4 per cent in September. The decline is surprising given that …