Retail sales rose strongly in September for autos
WASHINGTON (AP) — U.S. consumers stepped up their spending on retail goods in September, a hopeful sign for the sluggish economy.
They spent more on autos, clothing and furniture last month to boost retail sales 1.1 percent, the Commerce Department said today. It was the largest gain in seven months.
Auto sales rose 3.6 percent to drive the overall September increase. Still, excluding that category, sales increased a solid 0.6 percent.
The government also revised the August figures up to show a 0.3 percent increase after initially reporting no gain.
Stock futures rose after the release of the report, which is the government's first look at consumer spending each month.
Stronger spending could help tamp down concerns that the economy is at risk of a recession. Consumer spending is closely watched because it accounts for 70 percent of economic activity.
43
