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Data: St. Louis Fed via FRED; Chart: Axios Visuals

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.

Go deeper

The biggest local shopping season yet

Shopapalooza 2021. Photo: Rob Moorman/Moorman Photographics

This holiday season, one thought might count the most: where you get your gifts.

Why it matters: After many consumers chose online shopping over brick and mortar stores during the pandemic, small business owners are counting on this holiday season like never before.

Department stores pushed to explore less being more

Illustration: Aïda Amer/Axios

Department stores and their investors are obsessed with one retail trend you won't see on the runway: Spinning off their e-commerce businesses.

Driving the news: Macy's is the latest chain to explore such a move.

Why it matters: Department stores were further behind other retailers in modernizing and, as a result, were the most cash starved.

JPMorgan: "Full global recovery" in 2022

Photo: Erik McGregor/LightRocket via Getty Images

JPMorgan Chase Global Research says in a forecast to clients: "2022 will be the year of a full global recovery, an end of the global pandemic, and a return to normal conditions we had prior to the COVID-19 outbreak."

The big picture: The bullish report sees "a return of global mobility, and a release of pent-up demand from consumers (e.g. travel, services)."