Wall Street's estimates for 0.3% growth. Sales excluding auto and gas increased 0.6%, above estimates for a 0.1% increase compiled by Bloomberg. Meanwhile, August's sales were revised up to 0.8%, released by the Commerce Department, offers a snapshot of consumer spending at a time when economic data has been coming in largelyNine of the 13 categories highlighted in the release saw increases from a month ago while sporting goods was the lone category unchanged from August.
Resilient consumer spending has been considered one of the key factors that has kept the US out of a recession in 2023. However, companies have indicated a slowdown ahead. NEW YORK, NY - OCTOBER 27: A crowd of shoppers estimated in the thousands attend the opening of a new Wegmans supermarket despite heavy rain in a renovated section of the Brooklyn Navy Yard on October 27, 2019 in the Brooklyn borough of New York City. Open enrollment is no one’s idea of a good time, but health coverage is a crucial part of your financial health.
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