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Retail sales rise solid 0.7% in September, reflecting US shoppers’ resilience despite higher prices

AP Retail Writer

NEW YORK (AP) — Americans showed their steadfast resilience and kept spending in September even as they grappled with higher prices, interest rates and a host of other headwinds piling up. Retail sales rose 0.7% in September, more than twice what economists had expected, and close to a revised 0.8% bump in August, the Commerce Department reported Tuesday. Retail sales in August were inflated after gasoline prices spiked, however. That was not the case in September when gas prices began to ease. Excluding sales from gas and autos, retail sales rose 0.6%. September’s uptick in retail sales, the sixth consecutive monthly gain, reflects how the U.S. economy has remained resilient despite attempts by the Federal Reserve to cool spending and hiring.

Article Topic Follows: AP-National

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