Retail Sales Lost Steam
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Retail sales rose 0.2% after an unrevised 0.6% gain in August, the Commerce Department's Census Bureau said. Economists polled by Reuters had forecast retail sales, which are mostly goods and anot adjusted for inflation, would rise 0.4%.
U.S. Retail Sales crept up 0.2% M/M to $733.3B in September, compared with the +0.6% increase in August, and less than the +0.4% consensus, according to the delayed data released by the U.S. Census Bureau on Tuesday.
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CT malls, national chains extend hours for Black Friday as holiday sales could surpass $1 trillion
The National Retail Federation’s annual holiday forecast predicted that retail sales in November and December will grow between 3.7% and 4.2% over 2024.
Benchmark Treasury yields were little changed early Tuesday as traders awaited a batch of delayed economic data. The September U.S. retail sales and producer prices reports had been postponed because of the recently-ended government shutdown.