Gas prices may lift overall retail sales totals, but economists will be watching spending trends in core items to asses the health of the U.S. consumer heading into the autumn months.
The Commerce Department will publish its monthly estimate of U.S. retail sales Tuesday as investors look for a health-check on the biggest driver of U.S. economic growth and possibly another sign that inflation pressures are building into the autumn months.
Energy Department data shows the national average rose by just 0.04 cents, to $3.958 per gallon, a marked slowdown when compared to the 10.3% surge that occurred over the month of August. However, the closely-tracked control group number, which excludes autos, building materials, office suppliers, gas station sales and tobacco and feeds into the government's GDP calculations, is forecast to fall 0.5% from August following gains of 0.1% and 0.7% over the summer months.
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