U.S. Retail Sales Surge in September
Retail sales climbed 1.9 percent last month, the government said Friday. Economists polled by MarketWatch had forecast a 1.2 percent increase.
Setting aside the large auto segment, retail sales were still quite strong, up 1.5 percent.
Although retail sales have snapped back quickly to pre-crisis levels and done so far faster than expected, many economists worry a letdown is coming. People are returning to work at a slower pace, the coronavirus is spreading rapidly again, and Washington has failed to pass a second coronavirus-relief bill, triggering fresh worries about the health of the economy.
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Yet sales also rose in every other major category, except for electronic and appliance stores.