US Retail Sales Jump More Than Estimated In September
- 4 years ago
Business Insider reports that US retail sales in September increased by nearly 2%, landing above the average economist estimate of 0.8%.
This is the fifth straight month of improvement, as the economy continues to reaccelerate after covid caused slowing through the summer.
Consumer spending makes up 70% of the U.S. economy.
Retail spending is among the economic indicators being closely watched to signal economic recovery health.
But, September's initial leap is now slowing to a crawl.
As fiscal relief programs expired and direct payments dried up, the pace of retail spending growth has slowed.
This is the fifth straight month of improvement, as the economy continues to reaccelerate after covid caused slowing through the summer.
Consumer spending makes up 70% of the U.S. economy.
Retail spending is among the economic indicators being closely watched to signal economic recovery health.
But, September's initial leap is now slowing to a crawl.
As fiscal relief programs expired and direct payments dried up, the pace of retail spending growth has slowed.