Retail sales rose 0.7%, more than twice what economists had expected.
A shopper passes by a display of winter wear in a Costco warehouse on Wednesday, Oct. 4, 2023, in Sheridan, Colo. On Tuesday, the Commerce Department releases U.S. retail sales data for September.
Retail sales rose 0.7% in September, more than twice what economists had expected, and close to a revised 0.8% bump in August, the Commerce Department reported Tuesday. Retail sales in August were inflated after gasoline prices spiked, however. That was not the case in September when gas prices began to ease.
Spending at restaurants was up 0.9%, while spending online rose 1.1% last month, according to the report. Sales at general merchandise stores rose 0.4%. Business at grocery stores was up 0.4%. Sales at home furnishings and furniture stores were flat, while electronics stores and outlets that sell building materials saw declines reflecting a difficult housing market.
Still, questions remain whether shoppers will finally buckle as more bad news piles up from federal budget wrangling, student loan repayments — and new global tensions tied to theattack by Hamas in Israel. The moratorium on student loan payments lifted Oct. 1. Analysts say that shoppers could become rattled if the Israel-Hamas war is not contained., defying surging interest rates, and the ongoing threat of a government shutdown.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US retail sales beat expectations in September; core retail sales rise solidlyU.S. retail sales increased more than expected in September as households boosted purchases of motor vehicles and spent more at restaurants and bars, suggesting the economy ended the third quarter on a strong note.
Read more »
Retail sales up 0.7% in September as American consumers defy rising prices, interestAmericans kept spending in September at a solid pace even as they grappled with higher prices and interest rates
Read more »
US Retail Sales rose 0.7% in September vs. 0.3% anticipatedRetail Sales in the US rose 0.7% on a monthly basis in September to $704.9 billion, the data published by US Census Bureau showed on Tuesday. This rea
Read more »
Retail sales up a solid 0.7% in September as American consumers defy rising prices, interest ratesAmericans kept spending in September at a solid pace even as they grappled with higher prices and interest rates.
Read more »
Retail sales rose 0.7% in September, much stronger than estimateThe advanced retail sales report for September was expected to show a gain of 0.3%, according to a Dow Jones estimate.
Read more »
Retail sales up a solid 0.7% in September as American consumers defy rising prices, interest ratesAmericans kept spending in September at a solid pace even as they grappled with higher prices and interest rates.Retail sales rose a better-than-expected 0.7% in September, compared with a revised 0.8% in August, the Commerce Department reported Tuesday. Retail sales in August were inflated after gasoline prices spiked.
Read more »