Retail roars in US

RETAIL sales rose sharply the United States in September as consumers bought more cars, petrol and electronic items such as Apple’s latest iPhone.

The Commerce Department yesterday said retail sales rose 1.1pc after a 1.2pc gain in August.

Core retail sales – which include cars, petrol and building materials – rose 0.9pc last month, well above the 0.3pc gain expected by analysts.

Consumer spending drives about two-thirds of the US economy, and the data points to an economy that is growing modestly but remains below its potential ahead of the Presidential elections next month.