Sales at retailers fell flat in September, potentially another chink in the armor of a U.S. economy that likely to slow in the months ahead as interest rates...
The numbers: Sales at retailers fell flat in September, potentially another chink in the armor of a U.S. economy that likely to slow in the months ahead as interest rates keep going up.One caveat: Retail sales tend to be soft in September because... The numbers: Sales at retailers fell flat in September, potentially another chink in the armor of a U.S. economy that likely to slow in the months ahead as interest rates keep going up.
Receipts rose a mild 0.3% if auto dealers are excluded. Auto sales can exaggerate the ups and downs in overall retail spending. If that keeps up, the U.S. economy could be teetering on the edge of recession by early next year, analysts say.Receipts at gas stations also declined 1.4% after prices at the pump fell for the third month in a row. The cost of fuel is rising again, however, and Americans can expect to pay more in October.
Restaurant sales tend to rise when the economy is healthy and Americans feel secure in their jobs. Sales usually flatten out or decline in more troublesome times.
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