RETAIL SALES SPIKE IN SEPTEMBER, SMASHING EXPECTATIONS

Key Points:

  • September retail sales increased 1.9% from August, beating the 0.7% increase expected by economists.
  • Auto sales, which account for 20% of all retail sales, spiked 3.6% in September.
  • Excluding auto sales, retail sales grew by 1.5%, also well above the 0.5% consensus.
  • Clothing and accessories saw the largest gains, rising by 11%, and sporting goods, music and books jumped by 5.7%.
Source