BREAKING: U.S. Retail Sales Lose Speed due to the Pandemic and Lack of Fiscal Stimulus

WASHINGTON (Reuters) - 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.

Retail sales rose 0.3% last month, the smallest gain since the recovery started in May, after increasing 1.6% in September, the Commerce Department said.

They account for the goods component of consumer spending, with services such as healthcare and hotel accommodation making up the other portion.

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