October retail sales up more than forecast
Figures point to sustained economic strength that could allow the Fed to raise rates in December
Washington
US retail sales rose more than expected in October as households bought motor vehicles and a range of other goods, pointing to sustained economic strength that could allow the Federal Reserve to raise interest rates next month.
The Commerce Department said on Tuesday that retail sales increased 0.8 per cent last month, boosted by demand for building materials as households cleaned up and made repairs in the wake of Hurricane Matthew.
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