Consumer Behavior

Retail sales up on a healthy pace

Photo by istock.com

November 22, 2021

Retail sales increased 1.7% in October, compared to September, according to the U.S. Commerce Department, reflecting the biggest growth since March.

The sales jump is likely due to healthy savings, pay raises and job hiring, according to an AP report.

And the sales come in the midst of higher prices coming into play, a 6.2% increase in October compared to a year earlier, and the trend isn't stopping consumers from spending.