Retail Sales Post Big Gain In September As Consumers Show Unexpected Strength
Oct 16, 2020
Consumers spent at a much faster pace than expected in September, with retail sales rising 1.9% in a sign that the U.S. economy’s biggest driver remains healthy. Economists surveyed by Dow Jones expected sales to rise 0.7%, up from a 0.6% rise in August. Excluding autos, the gain amounted to 1.5%, which also was better than the 0.4% estimate. Clothing and accessories led the gains, rising by 11%, while sporting goods, music and books jumped 5.7%. Electronics and appliances was the only major sector that was negative, dropping 1.6% from the August levels. Read more at CNBC.
