Economy

US Retail Sales Growth Falls Short of Projections

Sales at furniture and home furnishings stores increased 1.7% from September a year ago, well below the broad retail sector's 4.7% gain, according to the latest U.S. Department of Commerce report.

Total U.S. retail and food services sales increased 4.4% in September from the same month previous year to $483.9 billion, and were up 1.6% from August.

Excluding the volatile auto and fuel sector, sales rose a more modest 0.5 percent for the month, up from August s 0.1 percent gain.

The Commerce Department said retail sales surged up by 1.6 percent in September after edging down by a revised 0.1 percent in August. Economists had forecast retail sales jumping 1.7% in September.

The result was also 4.4 percent above September of a year ago. That was the largest rise since March 2015 and followed a 2.1 percent decline in August. Meanwhile, gasoline stations had their best month since February of 2013, adding 5.8 percent in sales, putting them up more than 11 percent over the same month past year. These so-called core retail sales correspond most closely with the consumer spending component of gross domestic product.

The economy grew at a 3.1 percent annualized rate in the April-June period. Department store retailers are being squeezed by declining shopping mall traffic and increased competition from Amazon.com and other online retailers.

Bars and restaurants had a good month, adding 0.8 percent.



Like this

Latest


13 October 2017
You Can Now Order Food Using the Facebook App
Seamless, one of the largest food delivery services in the USA , is not one of Facebook's launch partners for food ordering. In addition, you'll be able to read reviews from friends about the restaurant in question, to help you make your decision.

13 October 2017
Protests in Ajas after braid chopping incident
Meanwhile J&K Chief Minister Mehbooba Mufti said that these incidents are aimed at undermining the dignity of women. An article published on Al Jazeera states that the first braid-chopping incident was reported on September 6.

13 October 2017
Catalan leader faces mounting pressure from all sides
The European Union, the United States and most other world powers have made it clear they wanted Catalonia to remain within Spain.

13 October 2017
Lexington Realty Trust (LXP) Expected to Announce Earnings of $0.25 Per Share
QTS Realty Trust, Inc. now has a PEG ratio of 7.31.Most importantly investors want to know where the stock is headed from here. The indicator is non-directional meaning that it gauges trend strength whether the stock price is trending higher or lower.

13 October 2017
MGIC Investment Corporation (NYSE:MTG) Experiences Lighter than Usual Trading Volume
The institutional investor owned 667,300 shares of the insurance provider's stock after selling 38,300 shares during the quarter. Stock market analysts and brokers have recently amended their target prices on shares of MGIC Investment Corporation (NYSE:MTG).

13 October 2017
European Union president Juncker says Brexit will take longer than initially thought
I do not want that", Jean Claude Juncker said in a speech at Luxembourg University. I am not in a revenge way. "But now they have to pay".

13 October 2017
Dollar General Corporation (NYSE:DG) Undervalued by 1.2%
It turned negative, as 42 investors sold GD shares while 358 reduced holdings. 123 funds opened positions while 686 raised stakes. Gamco Invsts Inc Et Al has invested 0% of its portfolio in Nasdaq Inc (NASDAQ:NDAQ). (NYSE:T). 24,281 were reported by Phocas.

13 October 2017
KENYA: Street protests banned amid election row
But the electoral body says Odinga will still be on the ballot since he didn't sign form 24A as required by law. Nasa co-principal Moses Wetangula addressing a past press conference at Okoa Kenya offices in Nairobi.

13 October 2017
Warner Brothers hires a new writer for Beetlejuice 2
Upon its release, Beetlejuice achieved both critical and commercial success grossing $73.7 million on a $15 million budget. From that day on, strangely enough, there has been no mention of any Beetlejuice 2 and we had our tears to cry.

13 October 2017
Bank of America beats on earnings
Total revenue grew by 1% to US$22.08bn from US$21.86nm, a year earlier, again beating Wall Street's expectations for US$21.98bn. Net charge-offs increased 1 percent to $900 million, while the netcharge-off ratio declined to 0.39 percent from 0.40 percent.



Recommended