The U.S. Census Bureau said Thursday retail sales posted strong gains in September, driven in part by replacement demand and auto sales.
Booming auto and gasoline sales in September pushed the United States retail sector to its highest level in more than two years, the Commerce Department reported Friday.
Excluding the jump in auto sales, retail sales still shot up by 1.0 percent in September after climbing by 0.5 percent in August. Adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, retail sales came in at $483.9billion.
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Sales were also 4.4 percent above September 2016, and the monthly change from July 2017 to August 2017 was revised from down 0.2 percent to down 0.1 percent. Meanwhile, gasoline stations had their best month since February of 2013, adding 5.8 percent in sales, putting them up more than 11 percent over the same month past year. Non-store (internet) continued to eat the lunch of certain of those losing categories (especially electronics), with sales up 0.5 percent for the month and 9.2 percent for the year.
From July through September, furniture and home furnishings store sales were up 3.8% from the same three months previous year and increased 0.2% from April-through-June period, the report said.
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