Published: Fri, October 13, 2017
Finance | By Loren Pratt

Retail Sales Surged in September

With gasoline prices showing a substantial increase, the Commerce Department released a report on Friday showing a significant jump in retail sales in the the month of September.

Core retail sales - excluding automobiles and parts - grew 1.0%. The year-over-year overall increase was even stronger, however, at 4.6 percent without auto sales. August's number was revised to reflect a 0.1% decline. Adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, retail sales came in at $483.9billion.

Total sales for the July 2017 through September 2017 period were up 3.9% (±0.5%) from the same period a year ago.

Economists had expected retail sales to spike by 1.7 percent compared to the 0.2 percent drop originally reported for the previous month.

Electronics stores posted a sales decline of 1.1% month over month and a year-over-year decline of 4.4% in sales.

Sales were stronger across a broad range of products. The gains are likely due to recovery work following the hurricanes that struck the Gulf Coast.

Sales at miscellaneous store retailers fell 0.6% month over month but gained 0.1% year over year.

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