Data Beyond the Expectations
In September retail sales rose for the fifth month in a row as clothes, sports, meals and other items were used by people in shops and online.
In September, US retail sales increased by 1.9%, announced on Friday by the Commerce Department. This is far beyond the economists' 0.7% increase. Retail revenues rose by 0.6% in August.
Previous Months' Data
In April retail revenues plummeted to a low of seven years, as coronavirus forced companies across the country to shut down, while revenues recovered to pre-pandemic levels by July.
Economists and market economists say that customer consumption has moved away from tourism, recreation and places like home renovation and technology. In September, revenues at clothes and fashion accessories companies increased by 11% compared to the previous month, while revenues of athletic attire, DIY goods, musical instruments and bookstores increased by 5.7%.