US October retail sales up 0.2%... growth rate lowest since November last year

U.S. retail sales rose 0.2% month-over-month in October to a seasonally adjusted $561.7 billion, the slowest monthly pace since November of last year, according to the CNBC/NRF Retail Monitor; sales were up 3.6% year-over-year. Core retail sales excluding restaurants totaled $454.2 billion, up 0.3% from September and 3.4% from a year earlier. The data matters because retail spending is a key gauge of consumer demand, and the deceleration suggests households are pulling back or timing purchases around discounts. NRF CEO Matthew Shay said consumers are managing budgets carefully and timing purchases to coincide with promotions and sales events. Watch upcoming holiday-season sales readings and discount-driven spending patterns for signs of whether this slowdown persists.