What: Visa releases its insight for October sales in the US.

Why it is important: Consumer confidence is increasing after 3 months of decline, leading to a rebound in retail sales (excl. restaurants and bars which remain flat).

Retail sales rose 17,6% year over year in October, after having risen 15,6% in September. Spending in restaurant and bars was relatively flat, and the growth was supported by retail sales, especially in Electronics and e-commerce.

This was supported by an increased disposable income (+2,3% in September) helping to support a growth in non-durable goods and services spending.

This shows also that consumer confidence rose in October, after 3 consecutive months of decline, thanks to a stronger job growth. However, Visa analysts remind that persistent inflation might tone down the situation in the coming weeks.

Retail sales are supporting a strong Q4 spending level in the US