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US retail sales for September smash forecasts

US retail sales for September smash forecasts

Retail sales from the United States showed a significant increase, thereby reflecting the improvement in household sector, but concerns remain about the deterioration of economic data during the last quarter due to the second wave of the Corona pandemic.

Retail sales volume for the month of September showed an increase of 1.9%, higher than expectations of 0.7% rise, while the previous reading was 0.6%.

As for core retail sales for the same month, it rose 1.5%, higher than the previous reading of 0.7% and expectations were for a rise of 0.4%.

On the annual level, retail sales increased by 5.4% from a previous increase of 2.8%, and expectations were for a rise of 2.2%.

Sales of clothing and cars recorded the highest rates at 11% and 4% respectively, which supported sales in general, in light of the return of the household sector to an increase their spending.

The dollar index, which measures the performance of the federal currency against a basket of six major currencies, witnessed a decline during today's trading, as it recorded its lowest level at 93.52 after it opened today's trading at 93.81. 


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