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On a monthly basis, retail sales were up 1.3% from September to October (seasonally adjusted), and sales were up 8.3 percent from October 2021.
From the Census Bureau report:
Advance estimates of U.S. retail and food services sales for October 2022, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $694.5 billion, up 1.3 percent from the previous month, and 8.3 percent above October 2021. … The August 2022 to September 2022 percent change was unrevised from virtually unchanged.
emphasis added Click on graph for larger image.
This graph shows retail sales since 1992. This is monthly retail sales and food service, seasonally adjusted (total and ex-gasoline).
Retail sales ex-gasoline were up 1.0% in October.
The second graph shows the year-over-year change in retail sales and food service (ex-gasoline) since 1993.
Retail and Food service sales, ex-gasoline, increased by 7.4% on a YoY basis.
Sales in October were above expectations, however sales in August and September were revised up, combined.
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