U.S. Retail Sales Rise in October While GM Announces Layoffs

Consumer spending shows resilience, but General Motors plans to cut 1,000 jobs as it adjusts to industry shifts.

Retail sales in the U.S. increased by 0.4% from September to October, driven by strong performances in auto, electronics, and dining sectors.
The increase in retail sales reflects both higher consumer demand and some inflationary price effects.
General Motors announced it will lay off about 1,000 workers in white-collar positions globally as part of a cost-cutting strategy.
The layoffs at GM are part of the company's efforts to streamline operations and focus on electric vehicle transitions.
Despite strong consumer spending, grocery store sales showed minimal growth, indicating ongoing challenges with high food prices.