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US Retail Sales Jump More Than Estimated In September

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Business Insider reports that US retail sales in September increased by nearly 2%, landing above the average economist estimate of 0.8%. This is the fifth straight month of improvement, as the economy continues to reaccelerate after covid caused slowing through the summer. Consumer spending makes up 70% of the U.S. economy. Retail spending is among the economic indicators being closely watched to signal economic recovery health. But, September's initial leap is now slowing to a crawl. As fiscal relief programs expired and direct payments dried up, the pace of retail spending growth has slowed.

Added on the 16/10/2020 09:11:40 - Copyright : Wochit

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