Economics
U.S. Retail Sales Top Estimates With Biggest Gain Since June
- Rise may reflect usage of savings, temporary jobless benefits
- Spending faces increasing headwinds following solid rebound
Sales associates greet a customer at a store in San Francisco, California.
Photographer: Michael Short/BloombergThis article is for subscribers only.
U.S. retail sales rose in September at the fastest pace in three months, topping forecasts and capping a third-quarter rebound for consumer spending that faces increasing headwinds.
The value of overall sales increased 1.9% from the prior month after a 0.6% gain in August, Commerce Department figures showed Friday. The median estimate in a Bloomberg survey of economists called for a 0.8% gain. Excluding autos and gasoline, sales rose 1.5%.