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September Retail Sales Exceed Estimates, Jobless Claims Fall More Than Expected

Retail sales in September exceeded expectations, highlighting strong consumer spending and reinforcing positive signals for broader economic growth as the third quarter wrapped up.

Simultaneously, the latest labor market data saw a decline in jobless claims rose during the week ending Oct. 12.

September Retail Sales Report: Key Highlights

Retail sales increased by 0.4% in September from the previous month, surpassing both the 0.3% economist consensus, as per TradingEconomics, and the 0.1% growth in August.

On a year-over-year basis, retail sales decelerated, down to 1.7% compared to 2.2% in August.

Excluding motor vehicles and parts, retail sales grew 0.5% month-over-month, exceeding the forecasted 0.1% increase and the upwardly revised 0.2% growth in August.

Stripping out gasoline, motor vehicles, and parts, sales climbed by a robust 0.7% in September, a sharp improvement from the upwardly revised 0.3% gain in August.

Among ...