US Retail Sales Grow For 5th Month In A Row

NEW YORK: Retail sales rose in September for the fifth month in a row, as Americans spent more on clothing, cars and sporting goods.

The U.S. Commerce Department said Friday that retail sales grew 1.9% last month. That’s up from August’s increase of 0.6%.

Retail sales have been recovering since plunging in the spring as stores and malls were ordered closed to help prevent the spread of the coronavirus.

Consumer spending makes up two-thirds of all U.S. economic activity, and is watched closely to gauge the country’s economic health.

Fridays retail sales report covers only about a third of overall consumer spending. Services such as haircuts and hotel stays are not included in the report. All of those types of businesses have been badly hurt by the pandemic.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Read all the Latest News and Breaking News here