The American Consumer

Marcus Tuck

Head of Research

6 am November 19, 2020


With consumer spending accounting for over two-thirds of US GDP, it is important to keep an eye on the spending behaviour of American consumers. The latest US retail sales numbers for October were released on Tuesday.

US retail and food services sales for October, adjusted for seasonal variation and holiday and trading day differences (but not for price changes), were US$553.3 billion, an increase of 0.3% from the previous month, and 5.7% higher than a year ago (see chart).

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