U.S. retail sales point to pick-up in demand, but inflation subdued

With the aid of Lucia Mutikani WASHINGTON (Reuters) – A gauge of U.S. consumer spending rose greater than expected in October as households bought a range of goods, suggesting upside momentum within the economic system early within the fourth quarter. Wednesday's report was the most recent sign a 16-day executive shutdown remaining month had a limited impression on the economic system and will have to ease considerations concerning the vacation shopping season. "It reinforces the current narrative of sustained growth momentum in the recovery going into the remaining quarter of the 12 months, even at a time when the economy was once contending with the headwinds created with the aid of the government shutdown," stated Millan Mulraine, senior economist at TD Securities in New York. Retail gross sales excluding vehicles, gas and building supplies increased zero.5 p.c remaining month after advancing zero.three p.c in September, the Commerce Department stated.