Economy News

U.S. retail sales rebounded in September

Sponsored

According to Commerce Department figures released Friday, retail sales in the United States rose in September due to price increases.

u.s. retail sales rebounded in September

A new report from the U.S. Department of Commerce shows that the U.S. retail sales market rebounded in September after falling 3.3 percent in the previous month, according to a report released Friday.

According to analysts, sales topped 624.5 billion dollars, an increase of 0.7% compared to August.

The sales estimate for August was also revised upward, showing an increase of 0.9% instead of 0.7%. Compared to September 2020, six months after the pandemic began, sales increased by 13.9%.

The retail sales are up 0.6% month-over-month excluding gasoline sales, which are experiencing higher prices at the pump. In the context of a sharp rise in oil prices, gasoline stations saw their sales increase by 1.8% over the month and by 38.2% over a year.

Automotive sales dropped by 3.3% in August. Conversely, they increased by 0.5% in September. Electronics and household appliances continued to decline due to supply chain problems and a global shortage of semiconductors. They fell by 0.9% after a 4.3% decline a month earlier.

Part of the iceberg.

Restaurants and bars are still recovering slowly (+0.3%) after just +0.2% in August, with Delta holding the downturn back. American consumers have increased their purchases of leisure equipment by 3.7% this autumn.

In November, online sales increased by 0.6%, compared to +5.7% the month before. Delivery bottlenecks may be to blame for the slowdown. Rasheed, an economist with Oxford Economics, points out that import prices rose by 0.4% in September following a 0.3% increase in August.

Retail sales, which are the pulse of the world’s largest economy, where consumption is the driving force, are only part of the spending of Americans who are consuming more services.

For MetaNews.

Avatar

Jonathan Hobbs

Jonathan Hobbs is an Australian investor and author that trades on a variety of asset classes, including currencies, equities, and commodities. Jonathan’s experience as a macro trader leverages his unique writing style to combine important elements, such as technical analysis and news. The other elements that he brings into his unique writing styles are foundation analysis aimed at rational equilibrium values, evaluating the sizes and motivations of buyers and sellers, as well as identifying the needs of the buyers and sellers in the individual markets. Jonathan is committed to quality writing for new traders as well as veterans.

Related Posts