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U.S Retail Sales surged by 1.6%

Friday, Oct 13 2017
U.S Retail Sales surged by 1.6%

U.S. retail sales jumped last month by the most in more than two years as motor vehicles lost to hurricanes were quickly replaced and higher prices lifted receipts at gasoline stations, Commerce Department figures showed Friday. Overall sales surged 1.6% (est. 1.7% gain), the most since March 2015, after a revised 0.1% decline in prior month.

Purchases at car dealers rose 3.6%, also the largest advance since March 2015, after 2.1% decrease.  So-called retail-control group sales, which are used to calculate GDP and exclude food services, auto dealers, building materials stores and gasoline stations, rose 0.4% after no change. 8 of 13 major retail categories showed a gain.

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