Retail sales beat forecasts as shoppers trade up on travel
Spending at stores and restaurants rose 0.7% in September, but gains were concentrated among higher-income households.
Retail sales climbed 0.7% last month, well above the 0.3% consensus, led by restaurants, online retailers and sporting goods. Receipts at gas stations fell as pump prices declined.
What comes next
Card data suggest the strength is uneven. Households in the top income third accounted for roughly half of the increase, while lower-income shoppers leaned on promotions and buy-now-pay-later plans.
Economists caution that a single reading rarely settles the debate. Revisions to earlier months have been large this year, and the gap between survey data and hard data remains unusually wide. Policymakers have said they will keep watching a broad set of indicators before changing course.
Spending at stores and restaurants rose 0.7% in September, but gains were concentrated among higher-income households.
What the data says
This article is for information only and is not investment advice. Figures are illustrative and may be delayed or simulated for demonstration purposes.
For information only — not investment advice.
