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US retail sales bounce back with 0.6% rise in September

by ChemOrbis Editorial Team -
  • 14/10/2016 (17:18)
According to data released by the US Commerce Department, the country’s September retail sales rose 0.6% on the month to following a 0.3% drop in the previous month.

Data showed that sales at retail stores, restaurants and online retailers are up 0.6% in September to a seasonally adjusted $459.82 billion. Sales in August had decreased 0.2% from the prior forecasts of a 0.3% drop.

Retail sales are up 0.5% in September from August, excluding autos. When both autos and gasoline are excluded, sales also jumped 0.3% compared to the previous month while the sales of motor vehicles and automotive parts increased 1.1% in September from August.

When compared to last year’s level, total retail sales increased 2.7% in September.

In the first nine months of 2016, meanwhile, total sales rose 2.9% from the same period of last year. Online retail sales increased 11% while department-stores sales fell by 4.8% in the first nine months, when compared to the same period of 2015.

The Q3 sales increased 0.7% compared to the second quarter and climbed 2.4% from the third quarter of last year.

These results showed that economic growth is being supported by consumers in the H2 of 2016.
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