cnbc.com
Negativecnbc.com · · US
Consumers are showing signs of strain even as they keep spending, CNBC/NRF Retail Monitor shows
Executive Summary
AI-generatedOctober retail sales showed the slowest monthly growth in nearly a year, indicating that American consumers are experiencing financial strain despite maintaining spending levels. Total retail spending reached $561.7 billion, though the decelerating pace suggests shoppers are becoming more selective due to persistent high prices.
Key Insights
- Total retail spending increased by 3.6% year-over-year, but the monthly growth rate was the lowest since November 2025.
- Core retail spending, excluding restaurants, rose 3.4% compared to the same period last year.
- The electronics and appliances sector led growth, increasing by 9.3% over the last 12 months, driven by AI-related price hikes.
- Furniture and home furnishings sales declined by 2.6% on a year-over-year basis, potentially linked to rising mortgage rates.
- The data arrives amid rising inflation, as the CPI increased 0.4% in October, and businesses plan to hike prices.
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