Retail sales fell in October for the first time in six months
The most affected category was furniture and household goods.
(Unsplash)
After learning that thefts accounted for around 65% of the "unknown" economic losses, retail businesses have suffered a new blow. In October, sales fell 0.1% compared to September.
Although it is a minimal decrease, Americans are cutting back on their spending due to the poor economic situation. Inflation continues to rise, prices keep going up and interest rates are still high.
Bloomberg reported that retail sales have not decreased since March, based on data published by the Department of Commerce (DOC). Since April, each month has had more spending than the previous month.
More than half of the retail categories (7 of 13) experienced a decline in sales. The largest was the furniture and home goods businesses, which fell 2%.
On the other hand, personal care and health stores increased their transactions by 1.1%, being the category that increased the most. The clothing sector was the only one that managed to maintain its sales level.
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