The News Scroll 16 October 2020  Last Updated at 7:05 pm | Source: PTI

US retail sales grow for 5th month in a row US retail sales grow for 5th month in a row

US retail sales grow for 5th month in a row US retail sales grow for 5th month in a row
outlookindia.com
1970-01-01T05:30:00+0530
New York, Oct 16 (AP) Retail sales rose in September for the fifth month in a row, as Americans spent more on clothing, cars and sporting goods.

The US 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.

Much of last month''s growth came from clothing stores, where sales rose 11%. At auto dealerships and repair shops, sales were up 3.6%. And those looking to go camping or buy exercise equipment for their homes sent sales at sporting goods stores up 5.7%. Consumer spending makes up two-thirds of all US economic activity, and is watched closely to gauge the country''s economic health.

Friday''s 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. (AP) PMS PMS


Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds. Source: PTI
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