Inflation fails to hinder U.S. consumers from spending
Rising inflation couldn’t deter consumers from spending in October as sales at U.S. retail stores, online sellers, and restaurants rose by a seasonally adjusted 1.7%
By Yashasvini Razdan
Published - Nov 17, 2021, 12:16 AM ET
Last Updated - Jul 04, 2024, 01:55 AM EDT
• Sales at U.S. retail stores, online sellers, and restaurants rose by a seasonally adjusted 1.7%.
• Stocks jumped after the announcement
Rising inflation couldn’t deter consumers from spending in October as sales at U.S. retail stores, online sellers, and restaurants rose by a seasonally adjusted 1.7%.
Retailers have upped their expectations for the third-quarter results. Walmart reported higher sales for the third quarter. Meanwhile, other retailers such as Home Depot have predicted better than expected results.
