U.S. Economy: Retail Sales in September Drop Less Than Forecast |
| Bloomberg - Oct 14, 2009 |
Sales at U.S. retailers fell less than forecast in September after the Obama administration’s cash-for-clunkers program expired, signaling consumers are gaining confidence in the outlook for an economic recovery.
The 1.5 percent decrease followed a 2.2 percent gain the prior month, figures from the Commerce Department showed today in Washington. Sales excluding automobiles climbed 0.5 percent, more than projected. Gains in prices of goods imported into the U.S. slowed last month, a separate report showed.
Stocks climbed and Treasuries fell as the report eased concern that household purchases, which make up about 70 percent of the economy, would sag without government support. While gains in spending from food to furniture suggest consumers will help pull the nation out of recession, Federal Reserve policy makers say demand is likely to be curbed by further job losses.
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- Posted: 2009-10-14 11:32:39
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