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Retail Sales in U.S. Decreased More Than Forecast in September

From bloomberg.com

Retail sales in the U.S. dropped more than forecast in September, reflecting a broad-based pullback that signaled consumers took a breather. The 0.3 percent decrease followed a 0.6 percent August gain that was the biggest in four months, Commerce Department figures showed today in Washington. The median forecast of 81 economists surveyed by Bloomberg called for a 0.1 percent decline. The pickup in hiring has failed to spur bigger gains in wages, which means households have yet to see the kind of jump in purchasing power that will drive sustained increases in demand. The recent drop in gasoline costs will give ... (full story)

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  • Category: High Impact Breaking News