September's retail sales report comes as major banks have discussed a resilient US consumer who is still spending but is likely slowing down to end the year.
Wall Street's estimates for 0.3% growth. Sales excluding auto and gas increased 0.6%, above estimates for a 0.1% increase compiled by Bloomberg. Meanwhile, August's sales were revised up to 0.8%, released by the Commerce Department, offers a snapshot of consumer spending at a time when economic data has been coming in largelyNine of the 13 categories highlighted in the release saw increases from a month ago while sporting goods was the lone category unchanged from August.
Resilient consumer spending has been considered one of the key factors that has kept the US out of a recession in 2023. However, companies have indicated a slowdown ahead. NEW YORK, NY - OCTOBER 27: A crowd of shoppers estimated in the thousands attend the opening of a new Wegmans supermarket despite heavy rain in a renovated section of the Brooklyn Navy Yard on October 27, 2019 in the Brooklyn borough of New York City. Open enrollment is no one’s idea of a good time, but health coverage is a crucial part of your financial health.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Retail sales up a solid 0.7% in September as American consumers defy rising prices, interest ratesNEW YORK (AP) — Americans kept spending in September at a solid pace even as they grappled with higher prices and interest rates. Retail sales rose 0.7% in...
Read more »
Goldman Sachs, Bank of America earnings, September retail sales report: Yahoo Finance LiveBank of America (BAC), Goldman Sachs (GS), and Johnson & Johnson (JNJ) among several big names to report earnings on Wall Street today.Both Bank of America...
Read more »
Retail sales surprise in SeptemberSeptember's retail sales report comes as major banks have discussed a resilient US consumer who is still spending but is likely slowing down to end the year.
Read more »
Home Depot exec. explains why worst of retail shrink not behind us yetMajor retailers have felt the brunt of retail theft — commonly referred to as retail shrink — with organized retail crime reportedly costing stores over $112...
Read more »
Why there could be more retail bankruptcies coming: ExpertPharmacy chain Rite Aid (RAD) filed for Chapter 11 bankruptcy. BDO National Leader of Restructuring and Turnaround Services Practice David Berliner says that...
Read more »
Statistics Canada to release September inflation reading this morningOTTAWA — Statistics Canada is set to release its September inflation reading this morning. Progress on getting inflation down has stalled in recent months as...
Read more »