As sales no retail in the United States rose less than expected in September, taking a breather after a recent period of strong gains.
Retail sales rose 0.2% after an unrevised 0.6% gain in August, the report said. Census Bureau from the Department of Commerce this Tuesday (25).
Economists consulted by Reuters predicted they would rise 0.4%.
The release of the report, originally scheduled for mid-October, was delayed by the 43-day government shutdown.
Sales had accelerated in previous months, in part as consumers rushed to buy battery-powered electric vehicles before tax credits expired at the end of September.
The moderation in sales probably won’t change those in the third quarter.
Retail sales excluding automobiles, gasoline, building materials and food services fell 0.1% in September, following a downwardly revised increase of 0.6% in August from the 0.7% reported earlier.
This indicator most closely corresponds to the consumer spending component of Gross Domestic Product.
However, spending is being driven by higher-income households, with many lower- and middle-income consumers burdened by rising costs, some of them from tariffs on imports, creating what economists call a K-shaped economy.
Although job growth rebounded in September, the labor market is weakening, with the unemployment rate rising to 4.4%, the highest level in four years.
The government’s economy grew at a 3.8% pace in the second quarter, with a smaller trade deficit accounting for most of the increase.
