Washington, DC, Nov. 14--Retail sales fell slightly more than expected in October as demand tumbled for motor vehicles and parts.
Retail sales declined by 0.3% last month, the Commerce Department said Friday.
October sales were pushed down by a 1.9% decrease in sales of motor vehicles and parts dealers. Without those sales, overall retail sales would have gone up by 0.2%. Without gasoline and auto sales, retail sales would have increased by 0.4%, a figure economists say is a better gauge of consumer spending.
Analysts were expecting a smaller decline in overall retail sales. A Dow Jones-CNBC survey of 17 economists predicted overall sales would fall by 0.2% for the month. They forecast sales would inch up 0.1% if auto sales were excluded.
Sales at building-materials and garden-equipment stores were up by 1.6% after a 1.3% gain in September. Furniture sales rose by 1%, while grocery-store sales decreased by 1.2% for the month.
Sales at general-merchandise stores were flat, as were sales at electronics and appliance stores.
Sales at clothing stores inched up 0.1%. Sales at gasoline stations sank by 1.6%. Sales at nonstore retailers, which includes electronic shopping and mail order, went up by 0.7%.
Overall sales in September were revised lower to show a 0.4% decline after originally being estimated as falling just 0.2%. August sales increased by 1% after last being estimated as rising 1.2%.
