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Thursday, October 17, 2024

Retail sales in America rise more than expected

Retail sales in America rise more than expected

The Statistics Office of the Ministry of Commerce said on Thursday: Retail sales It rose 0.4 percent last month after an unrevised 0.1 percent increase in August.

Economists polled by Reuters had expected retail sales, which consist mostly of goods and are not adjusted for inflation, to rise by 0.3 percent.

Estimates ranged from no change to an increase of 0.8 percent.

Signs of the economy’s strength will likely not discourage the Federal Reserve from cutting interest rates again next month, but will boost expectations for a smaller cut of about 25 basis points in borrowing costs.



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