Retail sales in the US slowed in October according to government data released today, with analysts noting that hurricanes in recent months might have distorted consumption patterns.
US sales rose 0.4% in October from the previous month to $718.9 billion, according to Department of Commerce data.
This was a smaller uptick than September's revised 0.8% increase.
Consumer spending has helped to power the US economy over the past year despite elevated interest rates as the central bank battled to rein in inflation.
But the cooldown in October, which came after the US Federal Reserve started lowering the benchmark lending rate, could have been influenced by hurricanes Helene and Milton, which landed in late-September and early October respectively.
The storms were likely to have forced some businesses to close temporarily, while people grappled with the aftermath, said economists at Pantheon Macroeconomics in a recent note.
In October, retail sales excluding those at car dealers and gas stations rose just 0.1% from the prior month.
Meanwhile, sales at furniture and personal care stores declined.
Sales at restaurants and bars, as well as grocery stores, also slowed from the prior month, Commerce Department data showed.
Typically, lower interest rates are expected to support economic activity.
From a year ago, retail sales were up 2.8% in October.
