U.S September retail sales up 0.6%: report

19 Oct 2010 , 04:26 PM

U.S retail sales grew in September for the third straight month as consumers bought more autos, electronics and assorted goods from Internet sites. Retail sales have surged to an annual rate of 7% over the past three months, suggesting that U.S. growth in the third quarter could be stronger than expected.

According to reports, retail sales climbed 0.6% in September. The strong sales data has prodded many economists such as Stanley to pull out their calculators and spreadsheets to reassess their forecasts. Excluding motor vehicles, retail sales improved by 0.4% in September.