Retail Sales Outpace , Modest Projections, as Inflation Continues to Rise.<br />CNBC reports retail <br />consumers of the United States <br />pushed the proverbial gas on <br />spending in October.<br />This spending continues as inflation has caused the price of goods to rise at their quickest rate in nearly 30 years.<br />Census Bureau advanced estimates say retail sales increased a total of 1.7% in October.<br />Some experts suggest this increase in spending was feuled by consumer concerns of even higher pricing in the near future.<br />Some experts suggest this increase in spending was feuled by consumer concerns of even higher pricing in the near future.<br />So much for soft consumer confidence signaling slower growth; what people do is much more important than what they say. , Ian Shepherdson, chief economist <br />Pantheon Macroeconomics, via CNBC.<br />Online marketplaces continue to <br />thrive as the pandemic continues, <br />posting gains of 4% in October.<br />Online marketplaces continue to <br />thrive as the pandemic continues, <br />posting gains of 4% in October.<br />Ever-increasing gas prices pushed <br />sales at the pump up 4%.<br />Other sectors of the economy <br />haven't been as lucky. .<br />The hospitality industry remains <br />hampered by decreasing sales and a <br />lack of an adequate labor force.<br />The hospitality industry remains <br />hampered by decreasing sales and a <br />lack of an adequate labor force.<br />In the last year, overall sales in the United States are up a total of 16.3%
