US retail spending “remains firm” despite flat September

14 October 2022

 

Summary: US retail sales flat in September, less than expected; annual growth rate slows from 9.4% to 8.2%; spending “remains firm”; short-term Treasury bond yields up, longer term yields down; rate rise expectations firm; falls in seven of thirteen retail categories; gas station segment largest single influence on month’s result. US retail sales had been trending up since late 2015 but, commencing in late 2018, a series of weak or...

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