U.S. Retail Sales Beat Forecasts as Gasoline Spending Surged
September retail sales rose 0.8% to $745 billion, led by a sharp increase in purchases at gasoline stations.
Key takeaways
- September retail sales rose 0.8%, topping the 0.3% forecast.
- Gasoline station sales climbed 6.4%, the strongest monthly increase among reported categories.
U.S. retail sales rose 0.8% in September to $745 billion, exceeding economists’ forecast for a 0.3% increase. Sales had risen 1.3% in August, and were up 6.3% from a year earlier.
Gasoline stations recorded the largest monthly increase, with sales up 6.4%. Sales excluding motor vehicles and gasoline rose 0.2%, according to Bloomberg HT.
The figures are nominal, so some of the increase may reflect higher prices, Dünya reported. A Federal Reserve report also found little or no change in overall consumer spending across most regions from late August to early October.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
