Analyst: The October retail sales report is stronger than it appears

On November 15, Forexlive analyst Adam Button commented on U.S. retail sales data, stating that American consumers have maintained a good growth momentum throughout the year. Due to previous data revisions, this report appears stronger than it looks. These figures continue to indicate that despite high interest rates, consumer spending remains resilient as we approach the holiday season. The control group data included in GDP calculations suggest stable consumer demand in the fourth quarter. Growth in food services indicates that consumers continue to spend on services, which are particularly sensitive sectors.