October’s results make up for most of the 0.3 percent month-over-month decline seen in September.
NRF’s annual forecast estimates that holiday retail sales in November and December will be up over 2018.
The pullback is possibly a reaction to increased fears over U.S.-China tensions according to NRF.
Details from the National Retail Federation’s prediction for the holiday season both for stores and online.
However, new tariffs present ‘downside risks.’
New 15 percent tariffs took effect this month and are set to be expanded on Dec. 15.
However, stock market and tariffs could lead to caution in consumer spending.
The National Retail Federation calls the tariff strategy flawed.
The agreement would replace the landmark North American Free Trade Agreement.
Retail sales were up 0.6 percent in June.