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| Version 1 | Version 2 |
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| US retail spending bounces back | US retail spending bounces back |
| (10 minutes later) | |
| US retail sales rose by more than expected in October, largely due to a resurgent car market, Commerce Department figures have shown. | US retail sales rose by more than expected in October, largely due to a resurgent car market, Commerce Department figures have shown. |
| Sales rose 1.4%, rebounding strongly after September's 1.5% fall was revised down to a decline of 2.3%. | Sales rose 1.4%, rebounding strongly after September's 1.5% fall was revised down to a decline of 2.3%. |
| Both months' figures were dominated by the impact of car sales. | Both months' figures were dominated by the impact of car sales. |
| Taking out car sales, overall retail sales rose by just 0.2% in October, underlining the fragile nature of the economic recovery, analysts said. | Taking out car sales, overall retail sales rose by just 0.2% in October, underlining the fragile nature of the economic recovery, analysts said. |
| Sales of new vehicles and car parts increased by 7.4% in October. | Sales of new vehicles and car parts increased by 7.4% in October. |
| In contrast, September had seen a 14.3% slump in auto sales after the government's "cash for clunkers" scheme, which offered motorists incentives to buy new cars, came to an end in August. | In contrast, September had seen a 14.3% slump in auto sales after the government's "cash for clunkers" scheme, which offered motorists incentives to buy new cars, came to an end in August. |
| The government had previously reported a 10.4% fall in auto sales in September. | The government had previously reported a 10.4% fall in auto sales in September. |
| "The retail sales data was definitely positive for October, but the revision for the prior month neutralises the impact. I think we are moving in the right direction, but it's not a straight line higher," said Sean Simko from the asset management company SEI. | "The retail sales data was definitely positive for October, but the revision for the prior month neutralises the impact. I think we are moving in the right direction, but it's not a straight line higher," said Sean Simko from the asset management company SEI. |
| "The consumer is concerned and cautious about their spending habits. Until we see jobs data come in better than expected, the consumer will continue to keep their wallet a little tighter and save, which will be a concern for the holiday season." | "The consumer is concerned and cautious about their spending habits. Until we see jobs data come in better than expected, the consumer will continue to keep their wallet a little tighter and save, which will be a concern for the holiday season." |
| The data helped push US stocks higher when Wall Street opened. The Dow Jones index rose 57 points to 10,328 in early trading. |