The numbers: Sales at U.S. retail stores surged in September and rose for the fifth month in a row as Americans bought more clothes, went out to eat and splurged on new cars and trucks, suggesting an economic recovery was still well underway at the start of fall.
Yet sales also rose in every other major category, except for electronic and appliance stores. Clothing sales leaped 11% at the start of the new school year and cooler weather approached. Sales also increased almost 10% at department stores. Restaurant sales are off about 14% compared to last year, however, and cooler temperatures could make it harder to serve more customers since fewer will be able to dine outside.
The big question is whether the momentum can carry into October. A number of large companies in entertainment and travel have announced layoffs as they struggle to regain their customers, a potential setback for the economy. The coronavirus is also spreading rapidly again in many U.S. states and could lead to more government restrictions on business.
Take a negative and spinning it into a positive. The Devil is in the detail.
“Surge” 1.9% is kinda funny don’t you think?
🥶🔥
1.9% is a surge?
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Retail sales post big gain in September as consumers show unexpected strengthConsumers spent at a much faster pace than expected in September, with retail sales rising 1.9% in a sign that the U.S. economy's biggest driver remains healthy. Or the numbers are just made up, especially since the election a few weeks away. As James Carville says,,,, 'It's the economy stupid'. If a economy showing signs of strengthening, makes you mad. You are on the wrong side
Source: CNBC - 🏆 12. / 72 Read more »
Latest News - MarketWatchGet the latest stock market, financial and business news from MarketWatch. good
Source: MarketWatch - 🏆 3. / 97 Read more »
September Retail Sales Show Momentum in FashionConsumers continued to adjust to pandemic life last month and ramped their spending back up. don’t count on continuing. W virus spreading
Source: wwd - 🏆 24. / 68 Read more »
U.S. retail sales beat expectations; outlook murkyU.S. retail sales rose more than expected in September, rounding out a strong quarter of economic activity, but the recovery from the recession is at a crossroads as government money runs out and new COVID-19 infections surge across the country.
Source: Reuters - 🏆 2. / 97 Read more »
Retail sales rose in September as people kept shoppingUS retail sales climbed in September for a fifth straight month as people spent on clothing, sporting goods, furniture and other items in stores and online Well after being cooped up by Covid we all need larger size clothes and probably wore the furniture out from being home so much! lol will it improve？ All that money people saved by cooking at home had to go somewhere.....
Source: cnnbrk - 🏆 393. / 55 Read more »
US retail sales grow for 5th month in a rowRetail sales rose strongly in September, the fifth consecutive month of growth, as Americans spent more on clothing, cars and sporting goods. As sales rose, so did the number of Covid cases. What planet are you reporting from? People are unemployed, benefit-less, food insecure, sick with COVID, dealing with medical bills, trying to feed children, dealing with expenses from burying loved ones, and on and on. Maybe you just make this up?
Source: ABC - 🏆 471. / 51 Read more »