U.S. Retail Sales: Stability Amidst Economic Challenges

Retail sales in the U.S. remained flat in October, even as consumer spending held strong. This stability, despite rising living costs and import duties, highlights economic disparities, with higher-income households driving spending. Economists predict continued GDP growth, amid varied economic impacts across income groups.

Retail sales in the U.S. showed no movement in October, defying expectations while maintaining consumer spending strength despite increasing living costs. The Commerce Department's Census Bureau reported that sales remained stable following a marginal gain of 0.1% in September.

Consumption patterns reveal a stark contrast, as lower-income households bear the brunt of inflating prices, a repercussion of sweeping import duties. These economic shifts unfold amid President Trump's alternating narratives on inflation and promises of future economic benefits.

A distinctive spending divergence emerges, with high earners maintaining robust discretionary expenditures, contrasting with the reductions in spending by lower-income groups. Economists remain optimistic about GDP growth, projecting continued momentum into the year-end, despite these financial challenges.

(With inputs from agencies.)