Holiday-shopping season is fast approaching
The numbers: Sales at U.S. retailers jumped a bigger-than-expected 0.7% in September in a sign households have enough buying power to keep the economy expanding.
Key details: Auto dealers posted a 1% gain in sales and helped to inflate the headline number. Auto sales account for about 20% of all retail sales. Consumer spending has stayed fairly healthy because of rising wages and the lowest unemployment rate in decades. What’s more, incomes are finally increasing faster than inflation for the first time in a few years.
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Retail sales rise sharply due to strong car sales and higher gas pricesHoliday-shopping season is fast approaching
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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.
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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.
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