Retail Sales Rise +0.4% in September

September’s retail sales rose 0.4%, beating expectations and improving on August’s unimpressive 0.1% gain. While consumer confidence continues to face headwinds like inflation, the numbers show people are still willing to spend.

On the labor side, initial jobless claims dropped by 19,000 to 241,000, showing that the labor market, much like those jobless claims charts, is staying flat... as usual. Despite recent hurricanes disrupting regional economies, the overall trend in claims hasn't budged much in two years.

Both data points tell the same story: steady consumer spending and an unmoved labor market. Not exactly fireworks, but stability beats volatility any day.

A Few Key Takeaways:

  • Retail sales increased by 0.4% in September, up from the sluggish 0.1% in August
  • Jobless claims dropped by 19,000 to 241,000
  • Claims have remained flat for two years, signaling a steady labor market
  • Growth sectors included clothing and restaurants, while electronics sales slumped

No big surprises here, but if you were expecting a meltdown, you’ll have to wait. Businesses should take this as a signal that, for now, the consumer engine is still running.

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