NEW YORK–For the week ended Nov. 1, retailers’ October sales inched up 0.6 percent on a week-over-week basis, according to the International Council of Shopping Centers.
On a year-over-year basis, sales grew 0.9 percent.
“Overall, consumers continue to spend on everyday items,” said Michael Niemira, the ICSC’s chief economist, in a statement.
The ICSC anticipates that sales will be within a range of a slight decline of 0.5 percent to a slight gain of 0.5 percent, “as retailers faced a considerable pullback in consumer spending earlier in the month,” Niemira said.