U.S. retail sales in October exceed expectations, but economists are cautious about the report.

On November 15th, Jinshi data reported that US retail sales in October were better than expected, providing additional assurance of the health of US consumers before entering the important holiday season. Scott Helfstein, director of Global X investment strategy, believes that this data may be more valuable for the Federal Reserve and investors than the CPI released on Wednesday: "With a slightly weak labor market, the health of consumers is a key issue for the upcoming earnings season and possible tariff increases." However, some economists are concerned that the slowdown in October sales may exceed expectations. Aditya Bhave, an economist at Bank of America, stated that the reduction in discretionary spending on goods in states affected by Hurricane "Milton" and the adverse impact of seasonal adjustments may actually lead to a decrease in retail sales. Economists at Citigroup, led by Gisela Hoxha, also approach this report with caution, pointing out that consumer spending on Citibank credit cards in some retail categories in October decreased by 1.65% compared to the previous month, and believe that the report will reflect more moderate consumption. Hoxha wrote: "We still expect a weakening labor market in the coming months, which will drag down consumption."