Loan Digest

Retail Sales Rise Solid 0.7% on Resilient Shoppers

  • 📰 NEWSMAX
  • ⏱ Reading Time:
  • 31 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 71%

Loans Loans Headlines News

Americans showed their steadfast resilience and kept spending in September even as they grappled with higher prices, interest rates and a host of other headwinds piling up.

Retail sales rose 0.7% in September, more than twice what economists had expected, and close to a revised 0.8% bump in August, the Commerce Department reported Tuesday. Retail sales in August were inflated after gasoline prices spiked, however. That was not the case in September when gas prices began to ease.

September's uptick in retail sales, the sixth consecutive monthly gain, reflects how the U.S. economy has remained resilient despite attempts by the Federal Reserve to cool spending and hiring. Spending has been volatile after surging nearly 3% in January. Sales tumbled in February and March before recovering in the spring and summer.

The retail sales report came as businesses across the U.S. economy ramped up hiring in September, defying surging interest rates, and the ongoing threat of a government shutdown. The strength of hiring has surprised economists inside and outside of the Fed.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 16. in LOANS

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

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.
Source: wjxt4 - 🏆 246. / 63 Read more »

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.Retail sales rose a better-than-expected 0.7% in September, compared with a revised 0.8% in August, the Commerce Department reported Tuesday. Retail sales in August were inflated after gasoline prices spiked.
Source: AP - 🏆 728. / 51 Read more »

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.
Source: ksatnews - 🏆 442. / 53 Read more »