Retail sales up 4%
Retail sales in October rose 4.2% over the same month last year, fueled by double-digit gains in building supply sales.
Total taxable retail sales in October were $1.33 billion, according to the Maine State Planning Office. Building supply sales grew 10.5% year over year, making October the fifth consecutive month of strong retail sales growth in that category. The other retail category, which includes gift shops, drug stores and dry goods stores, as well as auto and transportation each grew 9.8%. Business operating sales, which mostly consist of out-of-state purchases by Maine businesses, grew 6.5%. Meanwhile, restaurants and lodging saw a year-over-year decline in sales, which is likely due to weather-related fluctuations in tourism, according to the SPO.
Retail sales for the last three months, August through October, were 4.1% higher than the same three-month period a year ago.
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