Following September's unprecedented storm-related surge in retail sales (which was revised even higher), October was a fall back to reality with a 0.2% MoM rise (better than expected 0.0% though), pushing the YoY growth back down to 4.6%.
Retail sales were up a modest 0.2% in October, following September's 1.9% revised (from 1.6%) gain.
Compared to October 2016, retail sales in October were up a solid 4.6% % year-on-year (y/y).
Excluding autos, retail sales were up about 0.1% in the month (missing expectations), placing the annual trend at 4.4% y/y.
The important retail control group, which excludes autos, building materials, and gasoline, increased an expected 0.4% for a second straight month. This places the annual pace at a slower 3.3% y/y in October.