Retail sales rise 0.7% in September from August
U.S. retail sales rose in September as a result of higher gas and auto dealership sales, according to data released on Friday by the Department of Commerce.
The big picture: Higher retail sales may have been the effect of consumers buying early for the holidays out of fear of supply shortages.
- Retail sales rose 0.7% in September from August, the Commerce Department announced.
- August monthly growth also shot up after a revision upward to 0.9% from 0.7%.
Behind the rise: Higher prices drove gas station sales and auto dealership sales.
- Returns to school, work and play drove restaurant and bar, online retail, and clothing store sales.