Retail sales slip in October as consumers pull back after summer splurges

By ANNE D’INNOCENZIO and CHRISTOPHER RUGABER
AP Business Writers

NEW YORK (AP) — Americans cut back on retail spending in October, ending six straight months of gains, though the decline was partly driven by falling prices for both gasoline and cars. Retail sales declined 0.1% last month after jumping a strong 0.9% in September, according to a report released Wednesday by the Commerce Department. September’s figure was revised higher from an initial report of a 0.7% gain. Excluding sales of gas and autos, retail sales ticked up 0.1%.