The retail report released by the US Department of Commerce on October 14 showed that retail sales in the United States rose by 1.1% in September, the largest increase since February, not only surpassing analyst expectations, but also slightly eroding people's doubts about the economic outlook.
According to the Ministry of Commerce, retail sales grew by 1.1% last month, the largest increase in seven months; the government also revised the increase in August from a previously announced non-increase to a rise of 0.3%.
In the retail report, sales of 10 projects in 13 projects increased, among which car sales increased the most and grew by 3.6%. Excluding car sales, overall retail sales grew by 0.6%. Excluding items such as automobiles, gasoline, and building materials, retail sales also increased by 0.6%, which is the largest increase since March of this year. In August, this figure was 0.4%.
The retail sales of clothing were strong, with the major apparel prices falling by the largest since 1998, which helped increase sales.
"This is a very strong performance," said Liby Bass, chief bond strategist at Janney Montgomery Scott. Prior to the Ministry of Commerce's announcement of a retail report, Libbs forecast retail sales to grow by 1% in September.
According to the Ministry of Commerce, retail sales grew by 1.1% last month, the largest increase in seven months; the government also revised the increase in August from a previously announced non-increase to a rise of 0.3%.
In the retail report, sales of 10 projects in 13 projects increased, among which car sales increased the most and grew by 3.6%. Excluding car sales, overall retail sales grew by 0.6%. Excluding items such as automobiles, gasoline, and building materials, retail sales also increased by 0.6%, which is the largest increase since March of this year. In August, this figure was 0.4%.
The retail sales of clothing were strong, with the major apparel prices falling by the largest since 1998, which helped increase sales.
"This is a very strong performance," said Liby Bass, chief bond strategist at Janney Montgomery Scott. Prior to the Ministry of Commerce's announcement of a retail report, Libbs forecast retail sales to grow by 1% in September.
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