Retail Sales up a Better-than-Expected 0.8% in September as Shoppers Remain Resilient
Excluding gas stations, sales rose 0.2% as restaurants, department stores and online retailers posted gains, the Commerce Department said.
- The Commerce Department reported that retail sales increased 0.8% in September, exceeding economist forecasts, after a revised 1.3% jump in August.
- Rising gasoline prices accounted for most of the increase, with costs soaring 7.1% in September according to the Energy Information Administration, driving inflation higher.
- Department stores posted a 1.6% increase while furniture and home stores grew 1.3%; restaurants registered a 1.1% gain, though broader retail spending remained moderate.
- The Federal Reserve's Beige Book report on Wednesday said most districts had "reported little or no change in overall consumer spending" between late August and early October.
- Growth estimates for the July-September quarter sit around 3.0%, while the Bank of America Institute reported increased buy-now-pay-later usage, with nearly one in five households carrying repayments over $500.
46 Articles
46 Articles
U.S. Retail Sales Climb More Than Expected Amid Higher Gas Prices
The Commerce Department released a report on Thursday showing retail sales in the U.S. increased by much more than expected in in the month of September. The report said retail sales climbed by 0.8 percent in September after surging by an upwardly revised 1.3 percent in August. Economists had expected retail sales to rise by 0.3 percent.
Globo
Sales in retail and food services in the United States recorded a high of 0.8% in September before August, according to data released on Thursday (15) by the US Department of Commerce, totaling US$ 745.0 billion. Performance exceeded the high market consensus of 0.4%. In August, sales in retail were revised from 1.1% to 1.3%, to US$ 739.3 billion. Excluding cars, sales in retail rose by 0.9% in September on a monthly basis, and excluding cars an…
US retail sales beat expectations in September on higher gasoline ...
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