U.S. Retail Sales Rise 0.8% in September, Beating Forecast

U.S. retail sales rose 0.8% in September, exceeding the 0.3% expected gain and giving markets a stronger-than-anticipated reading on consumer demand and a fresh input for interest-rate expectations. The increase beat the forecast by 0.5 percentage point. Sales growth for the prior month was revised to 1.1% from 1.2%, trimming the earlier estimate by 0.1 point. September's gain therefore came after a slightly smaller increase in the previous month than first reported. The revision changes the baseline for comparing monthly results but does not erase September's gap over expectations. The latest figure was nearly three times the 0.3% forecast, while August's revised pace remained above zero. For markets, the report offers a fresh measure of consumer strength and a data point in the debate over interest rates.

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