The Commerce Department’s U.S. Census Bureau today released retail sales data for September 2010. Retail sales rose 0.6 percent, essentially matching the revised August gain of 0.7 percent. This figure exceeded private-sector expectations of 0.4 percent. Motor vehicle sales increased a strong 1.6 percent. Sales excluding automotive dealers edged up 0.4 percent, also higher than private-sector expectations of a 0.3-percent gain.
“Retails sales have shown strong growth over the last three months,” U.S. Commerce Secretary Gary Locke said. “This rising trend signals that consumer spending is expanding and that the recovery is broadening. The outlook for sustained growth remains positive, and this administration remains focused on continuing the economic turnaround that has now seen four straight quarters of GDP growth and nine straight months in which the private sector has added jobs.” Report
Source: U.S. Department of Commerce
