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Friday, May 7, 2021

Retail Sales Push Forward for 4th Straight Month

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There is light at the end of the tunnel on sales, according to the latest data from the Commerce Department.

Retail sales rose 0.5 percent in September, according to the government’s report on Monday, which marks the fourth consecutive month of gains. The retailers who are feeling the burn of e-commerce spending are feeling it much more.

The readings released on Monday show that shoppers in the United States are continuing to buy, even as consumer confidence has been dampened by fears of inflation and faltering wages. The latest reading was also slightly above economist expectations.

This article has been updated throughout with new data.

Even so, with consumer spending still growing, many industry experts caution against getting too excited.

“While today’s data is better than expected, on balance, it is fairly subdued and doesn’t signal much of a change in the overall state of the economy,” said Kevin Cummins, a senior economist at Natixis.

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