Retail sales up solidly in October as Americans showed continued willingness to spend

AP Business Writers

WASHINGTON (AP) — Americans stepped up their spending at retailers last month in the latest sign that healthy consumer spending is driving the economy’s steady growth. Retail sales rose 0.4% from September to October, a solid increase though less than the previous month’s robust 0.8% gain. A 1.6% jump in sales at auto dealers drove much of the gain. Purchases climbed 2.3% at electronics and appliances stores and 0.7% at restaurants and bars. Though some of October’s rise in retail sales reflected higher prices, it mainly indicated increased purchases. Friday’s report arrives as retailers are poised to enter the critically important holiday shopping season. Analysts envision a solid holiday shopping season, though perhaps not as robust as last year’s.