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U.S. retail sales dropped overall in October partly as a result of superstorm Sandy that hit much of the East Coast in the last week of the month. Retail and food-service sales fell 0.3% last month to a seasonally adjusted $411.59 billion, the Commerce Department said Wednesday. The decline was slightly larger than economists forecast for a 0.2% decrease. The Commerce Department said the storm had both positive and negative effects on the data. Some stores reported a drop in sales because storm damage forced them to temporarily or permanently close or they saw reduced business because of fewer customers. But other retailers experienced a sales boost as shoppers stocked up on emergency supplies, such as gas and food, ahead of the storm and then bought more goods if they had to evacuate. But the storm's effects aren't necessarily the only cause for the decline, particularly because the report doesn't provide regional figures.
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