US retail sales increased more than expected in September.
Another sign that economic growth remains strong in the third
quarter. A report from the Commerce Department out Thursday
showed sharp increases in receipts at retailers ranging from clothing
outlets to bookstores, grocers to gardening centers, online
sales as did receipts at bars and restaurants. Economists
view dining out as a key indicator of household finances
, lower fuel prices likely helped put more money in
consumers'. Pockets. Data from the US Energy Information
Administration showed gasoline dropped by about 12 cents per gallon
between August and September spending is being underpinned in part
by solid income growth. Though labor market momentum has
slowed layoffs remain historically low which supports wage gains.
Signs of the economy's resilience will likely not discourage the
Federal Reserve from lowering interest rates again next month but
will cement expectations for a smaller quarter point cut.