US retail sales grow at slower pace than forecast in Sept
The data from the US Commerce Department showed that auto sales climbed 1.8% while excluding auto and gasoline sales, retail sales remained unchanged. Excluding sales for motor vehicles, retail and food, retail sales moved lower by 0.3% in September.
Meanwhile, data for August was revised down to a stable trend from previous estimates of a 0.2% gain; however July’s figures were revised up to 0.8%.
On a yearly basis, US retail sales increased 1.2% in September on the back of increased sales at motor vehicle dealerships and restaurants.
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