Retail sales rose by more than expected in the month of October, according to a report released by the Commerce Department on Wednesday, with the sales growth largely due to a rebound in auto sales.
The Commerce Department said retail sales rose by 0.4 percent in October, while revised data showed that sales were unchanged in September.
Economists had expected retail sales to edge up by 0.1 percent compared to the 0.1 percent drop originally reported for the previous month.
Excluding the rebound in auto sales, retail sales rose by a more modest 0.2 percent in October compared to a 0 .3 percent increase in September. Ex-auto sales had been expected to tick up by 0.1 percent.
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