The Chicago Fed’s final nowcast of retail & food services sales (ex autos) growth in October is 0.4% MoM (revised up from the preliminary estimate of 0.3% MoM) and 4.2% YoY, which would be slightly higher than 4.1% YoY in September.

• The nowcast is based on positive contributions from transactions (+30 bps) and Census data (+12 bps) with foot traffic & sentiment (-3 bps) having essentially no effect.
• The nowcast for retail & food services sales (ex autos) price growth is 0.1% MoM and 2.0% YoY, revised up slightly from the preliminary estimate of 0.1% MoM and 1.9% YoY.
• The inflation-adjusted nowcast of retail sales is 0.3% MoM as price growth is forecasted to be weaker than the rise in sales.