U.S. retail sales in September rose by 0.4% from the previous month, slightly exceeding expectations.

A 1.7% increase compared to the same month last year, “Fed expected to make ‘baby cuts’ in November and December”, A Costco store in Virginia, USA,
, ‘(Washington=News1) Correspondent Ryu Jeong-min = The U.S. Department of Commerce announced on the 17th (local time) that the country’s retail sales in September were $714.4 billion, a 0.4% increase compared to the previous month.’,
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, ‘This figure slightly exceeds market expectations, such as the Reuters survey of economic experts who predicted a 0.3% increase compared to the previous month.’,
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, ‘Compared to the same period last year, it increased by 1.7%.’,
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, ‘Retail sales indicators mainly aggregate the performance of goods sales within overall consumption and serve as a metric to gauge changes in consumption, the backbone of the U.S. economy.’,
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, ‘Reuters reported, “U.S. retail sales in September increased solidly as consumers were able to spend more money due to falling gasoline prices,” adding, “It supports the view that the economy maintained a strong growth pace in the third quarter.”‘,
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, ‘According to the U.S. Energy Information Administration, gasoline prices fell by about 12 cents per gallon between August and September.’,
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, ‘Spending on food services and bars increased by 0.5% in August and further by 1.0% in September.’,
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, ‘Jeffrey Roach, chief economist at LPL Financial, said, “Strong consumer spending in September suggests that the economic growth rate in the previous quarter was robustly above trend,” predicting that the Fed is likely to cut interest rates by 0.25 percentage points in both November and December.’,
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, ‘Core retail sales, excluding volatile categories such as automobiles, gasoline, building materials, and food services, increased by 0.7% last month following a 0.3% increase in August. Core retail sales are used to gauge the consumer spending component of the Gross Domestic Product (GDP).’,
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, ‘The estimated growth rate for the third quarter is approximately 3.2% annually. The U.S. economy recorded a growth rate of 3.0% in the second quarter.’