Retail sales record strong growth
Americans spending more on clothing
NEW YORK — Retail sales rose strongly in September, the fifth straight month of growth, as Americans spent more on clothing, cars and sporting goods.
U.S. retail sales jumped 1.9 percent last month, the U.S. Commerce Department said Friday. That’s more than double what was economists were expected. And it’s up from the 0.6 percent increase in August.
“Americans raced to the stores in September,” said BMO Capital Markets analyst Sal Guatieri, in a note to investors, adding that they were “buying just about everything in sight, especially clothing.”
Sales at clothing stores rose 11 percent, accounting for much of September’s overall growth. Even sales at department stores, which have been falling out of fashion with shoppers for years, rose 9.7 percent last month.
At auto dealerships and auto part
shops, sales were up 3.6 percent.
And those looking to go camping or buy exercise equipment for their homes sent sales at sporting goods stores 5.7 percent higher.
Consumer spending makes up two-thirds of all U.S. economic activity and is watched closely to gauge the country’s economic health.
Retail sales have been recovering since plunging in the spring as stores and malls were ordered closed to help prevent the spread of the coronavirus. And spending has continued even after more than 20 million unemployed Americans lost a $600 boost in their weekly unemployment checks at the end of July.