ARLINGTON, Va.--Total retail sales rose 0.3% in October, following a decline in September that ended six consecutive months of growth.
NAFCU Chief Economist and Vice President of Research Curt Long reacted to the "mixed" rise.
"Solid job growth will continue to drive moderate retail sales growth into the medium-term. Trade tensions are an unpredictable risk, although a partial trade deal with China now seems possible," said Long.
Year-over-year growth in retail sales was 3.1% in October, down from 4.1% in September. Control group sales increased 3.7% from a year ago.
Among the major retail segments, seven of the 13 categories fell in October, similar to the previous month, with clothing and accessory stores and furniture stores seeing the sharpest drops, Long said.