US Retail Sales Jump More Than Estimated In September
Video Credit: Wochit - Duration: 00:31s - Published
US Retail Sales Jump More Than Estimated In September
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.
