US September Retail Sales Rise 0.8%, Beating Forecasts
JOON HYOUNG LEE
Summary
- US retail sales in September rose 0.8% from a month earlier, beating the market forecast (0.3%).
- September retail sales were 0.5 percentage point above economists’ forecast and rose 6.29% from a year earlier.
- The August retail sales figure was revised to a 1.3% increase from 1.2% a month earlier, and the data is viewed as a gauge of shifts in US consumer spending.
Forecast Trend Report by Period
US retail sales rose 0.8% in September from a month earlier, topping market forecasts.
The Commerce Department said on October 15 that September retail sales increased 0.8% from the previous month. That was 0.5 percentage point above economists’ forecast of 0.3%.
From a year earlier, retail sales rose 6.29%. The August reading was revised to a 1.3% monthly gain from the previously reported 1.2% increase.
The monthly US retail sales report is a preliminary indicator that mainly tracks goods purchases within overall consumer spending. It is widely viewed as a gauge of changes in consumption, a main driver of the US economy.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul