"Sales at U.S. retailers and restaurants rose slightly in September as resilient consumers moderated their spending after splurging over the summer. Sales increased 0.2% last month from August, the Commerce Department said Tuesday, in a report delayed more than a month because of the government shutdown. Many reports on inflation, employment, spending, and growth remain delayed and the government won't likely be caught up until late December."
"The retail sales figures suggest that Americans as a whole are still willing and able to boost their spending, a key driver of the economy, despite high prices for groceries, rent, and many imported goods hit by tariffs. Steady consumer spending may lift the economy's growth to a solid 3% or higher annual rate in the July-September quarter, economists forecast, after a modest 1.6% expansion in the first half of the year."
Sales at U.S. retailers and restaurants rose 0.2% in September from August. The Commerce Department report was delayed by the government shutdown, and many economic reports remain delayed until late December. Consumer spending remains resilient despite high prices for groceries, rent, and tariff-affected imports, supporting forecasts that third-quarter growth could reach roughly 3% annualized after 1.6% expansion in the first half. Hiring has weakened and unemployment rose to 4.4% in September, creating downside risks. Higher-income consumers are accounting for much of the spending gains while lower-income shoppers seek bargains. Holiday season sales are expected to be modestly higher, with NRF projecting over $1 trillion.
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