US Retail Sales Rebound in September

October 14, 2016 Share Print 0

U.S. shoppers upped their spending in September, with sharp increases in sales at auto dealers, restaurants and gas stations.

The Commerce Department says retail sales rose 0.6 percent in September, a rebound after sales slipped 0.2 percent in August. During the first nine months of the year, retail sales have increased 2.9 percent compared with 2015.

Stabilizing oil prices meant that sales rose 2.4 percent at gas stations last month. Spending at restaurants improved 0.8 percent, while auto dealers, building materials stores and furnishers notched monthly gains of 1 percent or more.

Department stores suffered a 0.7 percent sales decline in September, part of a broader, long-term setback for the anchor tenants at many shopping malls that are now competing with online outlets for customers.

via CNBC

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.