Retail sales whiff

Retail sales rose 0.1% in September, according to the Census Bureau.

But excluding the volatile auto and gas components, “core” retail sales were flat month-on-month.

Lower gasoline prices impacted gas station sales, which fell 3.2% from August, the highest for any kind of business. Compared to last September, sales were down 19.7%.

Economists had estimated that retail sales rose 0.2% during the month, unchanged from August. Excluding autos and gas, they estimated that sales fell 0.1%.

In an email to clients after the release, Pantheon Macroeconomics’ Ian Shepherdson noted that the strong dollar is weighing down the prices of imported goods, particularly clothes and electronics.

NOW WATCH: 5 Ways Supermarkets Trick You Into Spending More Money

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at