Retail Sales Rise Solid 0.7% in September, Reflecting US Shoppers' Resilience
The increase was more than twice what economists expected.
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The increase was more than twice what economists expected.
A closely watched category of retail sales that excludes auto dealers, gas stations and building materials and feeds into the gross domestic product jumped 0.6% last month compared to the prior month.
Americans showed their steadfast resilience and kept spending online, at restaurants, and at other outlets in September.
Americans showed their steadfast resilience and kept spending online, at restaurants and other outlets in September even as they grappled with higher prices, interest rates and a host of other headwinds piling up.
Strong sales suggest the economy may not slow as much in the final three months of the year as previously expected