September’s Retail Sales Confirm Weaker Conclusion to 3Q14 Consumer Data

Summary

Retail sales in September declined a surprising 0.3% following a 0.6% gain in the previous month. Auto sales were a big driver of the negative report, down 0.8% for the first time since January. Similarly, falling gas prices have weighed on nominal sales at gasoline stations, with the figure down 0.8% and marking the fourth consecutive monthly decline

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