U.S. retail sales rose in September, defying predictions of a slowdown.
Amidst supply chain shortages, estimated U.S. retail and food service sales rose 0.7% in September. In total, these sales came in at roughly $625.4 billion last month—up 13.9% over September 2020, according to U.S. Census Bureau data released Friday. “September marked the fifth month in a row when the consensus estimate was for retail sales to fall,” Ted Rossman, a senior industry analyst at CreditCards.com, said in a statement, noting that this month’s numbers are proof that consumer spending remains remarkably resilient, especially on goods. Concern over rising prices and evidence of supply chain disruptions may be helping to spur consumers to buy goods now.
