Shoppers kept their wallets open in September as retail sales rose, though less than expected.
Retail sales increased for the fourth consecutive month, rising 0.2 percent for a total of $733.3 billion, according to data released on Nov. 25 by the Department of Commerce’s Census Bureau. This followed a 0.6 percent rise in August and represented the smallest increase in four months.
The market consensus indicated a 0.4 percent jump.
On a 12-month basis, the increase in retail sales eased to 4.3 percent, from 5 percent in August.
“It’s not surprising that retail sales took a breather in September following a pretty good summer,” Ted Rossman, senior industry analyst at Bankrate, said in a statement to The Epoch Times. “October brought the unofficial start of the holiday shopping season, which is also expected to be solid.”…