WASHINGTON, Oct 15 (Reuters) – Sales at U.S. retailers rose
a stronger-than-expected 0.6 percent in September, lifted by
big-ticket items including autos, electronics and appliances,
Commerce Department figures showed on Friday.
Analysts polled by Reuters had expected an increase of 0.4
percent for September, after an upwardly revised 0.7 percent
gain in August. Excluding autos, September sales were up 0.4
percent, matching analysts’ expectations.
The figures suggest consumption may have been a bit stronger
than economists had anticipated in the third quarter. Consumer
spending accounts for roughly 70 percent of the U.S. economy,
so a strong reading bodes well for third-quarter gross domestic
product.
Sales at motor vehicles and parts dealers rose 1.6 percent
last month. Electronics and appliances stores saw a 1.5 percent
gain. With the exception of clothing and department stores,
every other major retail category showed gains for the month.
a stronger-than-expected 0.6 percent in September, lifted by
big-ticket items including autos, electronics and appliances,
Commerce Department figures showed on Friday.
Analysts polled by Reuters had expected an increase of 0.4
percent for September, after an upwardly revised 0.7 percent
gain in August. Excluding autos, September sales were up 0.4
percent, matching analysts’ expectations.
The figures suggest consumption may have been a bit stronger
than economists had anticipated in the third quarter. Consumer
spending accounts for roughly 70 percent of the U.S. economy,
so a strong reading bodes well for third-quarter gross domestic
product.
Sales at motor vehicles and parts dealers rose 1.6 percent
last month. Electronics and appliances stores saw a 1.5 percent
gain. With the exception of clothing and department stores,
every other major retail category showed gains for the month.