US October retail sales likely rose

US retail sales edged up 0.1% in September, from being steady in August, due to lower gasoline prices weighing on service station reciepts,  while automobile purchase profits reflected strong domestic demand.

In october, retail sales were boosted by increased spending in large varieties of business segments. The retail and food sales were increased probably by 0.5% this month, which stands largest in three months.

Motor unit purchases rose slightly over September, which seasonally adjusted comes to an annual rate of 18.12 mn.

"After adjusting for prices and seasonal adjustment differences between the unit volume and value series, auto dealer revenues likely climbed by 0.1% to a record $94.8 billion during the reference period - 7.4% above the level recorded 12 months earlier", says Societe Generale in a research note. 

Retail sales likely snapped back by 0.6%, excluding the rise in auto purchases, offsetting the 0.4% cumulative contraction recorded in August - September.

Food, electronics, general merchandise, non-store retailer and miscelleneous sales are likely rebounded, which might have gained the control purchases in October.

"Our projection, if realized, would place control sales in October a solid 3.1% annualized above the July-September average, following a 4.6% summer-quarter gain", added Societe Generale.