P. M. BRIEFING - September Retail Sales Rise .5%, 3rd Monthly Gain in a Row
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WASHINGTON —
Retail sales rose a healthy 0.5% to $145.2 billion in September for the third consecutive monthly gain, the Commerce Department said today.
Excluding automobile sales, which can fluctuate widely, retail sales rose 0.4% in September after gaining 0.2% in August.
The latest figures were stronger than most economists expected and showed that consumer spending was still contributing to the economy’s expansion, which has lasted for 82 months.
The 0.5% September rise in total sales followed gains of 0.7% in August and July.
Throughout the year sales by retailers have maintained a solid pace, increasing 6.1% during the first nine months, compared to a 6.4% rise in the same period a year ago.
But some experts foresee sluggishness in retail sales in the months ahead. They say the economy is slowing and point to last month’s rise in the unemployment rate to 5.3%.
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