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Retail Sales up a Better-than-Expected 0.8% in September as Shoppers Remain Resilient
Higher gasoline prices drove most of the gain, while core spending rose just 0.1%, the Commerce Department said.
- On Thursday, the Commerce Department's Census Bureau reported U.S. retail and food services sales rose 0.8% in September, exceeding economist forecasts after an upwardly revised 1.3% gain in August.
- Rising gasoline prices accounted for most of this growth; data from the Energy Information Administration showed petrol prices soared 7.1% in September, driving inflation higher during the month.
- Excluding automobiles, gasoline, building materials, and food services, core retail sales edged up just 0.1% in September after surging 1.2% in August. This modest increase reveals headline growth masks cooling consumer demand for non-essentials.
- The Federal Reserve's Beige Book report on Wednesday said most districts "reported little or no change in overall consumer spending" between late August and early October, with lower-income households increasingly cautious.
- National Retail Federation President and CEO Matthew Shay stated consumers prioritize holiday spending despite persistent inflation, though economists expect momentum to lose steam as high prices weigh on household budgets.
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1prime.ru
1prime.ruDespite 3.7% inflation in September, US consumers remain resilient in spending
·Los Angeles, United States
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Despite an inflation rate of 3.7% over one year in September, the National Federation of Retail Trade (NRF) notes a "resilience of consumers".
·Paris, France
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Coverage Details
Total News Sources76
Leaning Left13Leaning Right10Center30Last UpdatedBias Distribution57% Center
Bias Distribution
- 57% of the sources are Center
57% Center
L 24%
C 57%
R 19%
Factuality
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