After reporting a sharp increase in U.S. retail sales in the previous month, the Commerce Department released a report on Tuesday showing retail sales rose by less than expected in the month of October.
The report said retail sales rose by 0.3 percent in October after jumping by a downwardly revised 1.6 percent in September.
Economists had expected retail sales to climb by 0.5 percent compared to the 1.9 percent spike originally reported for the previous month.
Excluding an increase in sales by motor vehicle and parts dealers, retail sales edged up by 0.2 percent in October after surging up by 1.2 percent in September. Ex-auto sales were expected to increase by 0.6 percent.
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