US Retail Sales Rise 0.8% in September as Higher Gasoline Prices Drive Gains

U.S. headline retail sales rose 0.8% month-over-month in September to reach $745.0 billion, beating expectations following an upwardly revised 1.3% advance in August. Core sales excluding autos rose 0.9%, exceeding forecasts, while annualized sales grew 6.3%. However, the underlying data showed narrow momentum, with surging gas station sales up 6.4% and accounting for 71%, or $4.1 billion, of the total $5.7 billion dollar increase. Excluding gasoline, overall retail sales expanded by just 0.2%, and the retail control group rose 0.1%, falling short of the 0.3% consensus estimate.