US retail sales lose speed as pandemic, lack of fiscal stimulus weigh

Biden urged a divided Congress to come together and pass another pandemic relief package.

WASHINGTON: U.S. retail sales increased less than expected in October and could slow further, restrained by spiraling new COVID-19 infections and declining household income as millions of unemployed Americans lose government financial support.

While other data on Tuesday showed production at factories accelerating last month, output remained well below its pre-pandemic level and the uncontrolled coronavirus outbreak could disrupt production. The public health crisis and frail economy are major challenges confronting President-elect Joe Biden when he takes over from President Donald Trump in January.