Consumers spent a much faster pace than expected in September, with retail sales rising 1.9% in a sign that the U.S. economy’s biggest driver remains healthy. Economists surveyed by Dow Jones expected sales to rise 0.7%, up from a 0.6% rise in August. Excluding autos, the gain amounted to 1.5%, which also was better than the 0.4% estimate. Clothing and accessories led the gains, rising by 11%, while sporting goods, music and books jumped 5.7%. Electronics and appliances was the only major sector that was negative, dropping 1.6% from the August levels. Markets reacted positively to the news, with Dow futures implying ... (full story)

U.S. retail sales increased more than expected in September, rounding out a strong quarter of economic activity, though the recovery from the recession is at a crossroads as government money runs out and new COVID-19 infections surge across the country. Retail sales jumped 1.9% last month after an unrevised 0.6% gain in August, the Commerce Department said on Friday. Economists polled by Reuters had forecast retail sales rising 0.7% in September. Retail sales have bounced back above their February level, with the pandemic boosting demand for goods complementing life at home, including cars, furniture and electronics. ... (full story)