Retail sales up a better-than-expected 0.8% in September as shoppers remain resilient
NEW YORK (AP) — Shoppers showed their willingness to spend in September even after a better-than-expected splurge in August.
Retail sales increased a better-than-expected 0.8% last month, after delivering a revised 1.3% gain in August, according to the Commerce Department’s report Thursday. Economists were anticipating a 0.3% increase for the month, according to FactSet.
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Retail sales up a better-than-expected 0.8% in September as shoppers remain resilient
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By ANNE D'INNOCENZIO
NEW YORK (AP) — Shoppers showed their willingness to spend in September even after a better-than-expected splurge in August.
Retail sales increased a better-than-expected 0.8% last month, after delivering a revised 1.3% gain in August, according to the Commerce Department’s report Thursday. Economists were anticipating a 0.3% increase for the month, according to FactSet.
Excluding business at gas stations, retail sales rose 0.2% in September. The government figures aren’t adjusted for inflation, which accelerated last month as gasoline and many other goods and services became more expensive.
Business at furniture and home stores rose 1.3%, while department stores posted a 1.6% increase. Business at online retailers rose 0.3%, according to the report.
The data offers only a snapshot of consumer spending and doesn’t include activities like travel and hotel stays. But the lone services category – restaurants – registered a 1.1% increase.
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