New October retail sales data out this morning suggests that the fourth quarter could be off to a rocky start for e-commerce.
Growth in U.S. retail sales that take place outside of stores, known as nonstore sales, decelerated in October, with sales dropping 0.3% compared with September 2017, according to the U.S. Commerce Department.
Adjusted for seasonality, nonstore sales reached $52.14 billion in October, a 6.8% increase compared with $48.82 billion in October 2016. That’s a smaller gain than September, which experienced a 9.2% year-over-year increase, and August, during which nonstore sales grew 8.4% compared to prior year period.. . . more