Americans Cut Back Spending in October - Valley News Live - KVLY/KXJB - Fargo/Grand Forks

Americans Cut Back Spending in October

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Americans cut back on spending in October.

The Department of Commerce reports sales dropped 0.3% last month after three months of gains.

Electronics and clothing stores posted lower sales, and so did auto sales, which fell 1.5% -- the biggest drop in auto sales in more than a year.

Government officials say Hurricane Sandy had both positive and negative effects on sales. Some stores and restaurants closed, losing business, while others increased sales ahead of the storm.

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