The Commerce Department reports retail sales jumped 0.8% in October after a revised 1% gain in September. Economists expected an adjusted 0.7% gain. It was a strong month for auto dealers. Sales were up 1.1%, and hit an 11-month high. Gas stations posted a 2.2% increase, reflecting a rise in prices at the pump. Excluding autos and gas, sales rose 0.6%.
The Federal Reserve Bank of New York reports the Empire Fed index of New York-area manufacturing conditions rose 8.3 points to 1.5. Readings above zero indicate improving conditions. It was the first positive in four months. Companies reported both new orders and shipments increased. The inventories index fell 11.3 points to -23.6, a multiyear low. But the index for number of employees dropped 6.2 points to -10.9, and the average workweek stayed negative.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
