US retail sales up 0.8pc in September as higher fuel prices feed through.
US retail sales rose 0.8% month‑on‑month in September, according to the Census Bureau, comfortably beating expectations and building on August's upwardly revised 1.3% gain.
Source: Sharecast
The headline increase was driven largely by a 6.4% jump in sales at gasoline stations as higher fuel prices fed through. Overall retail sales, which are not adjusted for inflation, were up just 0.2% when excluding gas.
Several categories posted solid gains, including furniture stores, food services and drinking places, health and personal care, and electronics and appliances, while clothing sales were flat, and a number of discretionary categories weakened.
Miscellaneous store retailers fell 3%, building materials and garden equipment dropped 0.6%, sporting goods, musical instruments and books declined 0.5%, and general merchandise eased 0.1%.
The control group - which strips out volatile food services, auto dealers, building materials and gasoline stations and feeds directly into GDP calculations - rose 0.1% in September, following a 1.2% increase in August.
Reporting by Iain Gilbert at Sharecast.com
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