Consumer spending continues to show restraint

October retail sales were up, though only slightly, signaling a slow down in consumer spending as the retail industry begins its holiday season. According to the National Retail Federation, retail industry sales for October (which exclude automobiles, gas stations, and restaurants) rose 4.4% unadjusted over last year and 0.1% seasonally adjusted from September.

October retail sales released by the U.S. Commerce Department show total retail sales (which include non-general merchandise categories such as autos, gasoline stations and restaurants) increased 0.2% seasonally adjusted from last month and 6.7% unadjusted year-over-year.

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