US Shows Modest Retail Gain in October

U.S. retail sales rose modestly in October as consumers increased purchases of motor vehicles, sporting goods and a range of other goods, the Commerce Department reported.

Retail sales rose 0.2 percent from the previous month to a seasonally adjusted $486.6 billion in October, following a revised 1.9 percent gain in September, the Commerce Department said. Year on year, total retail sales rose 4.6 percent last month.

The U.S. economy is expected to expand at 3.2 percent in the fourth quarter, following a 3 percent growth rate in the third quarter, according to the latest forecast from the Federal Reserve Bank of New York.