US Retail Sales Control Group Rose 0.1% in September
The US retail sales control group rose 0.1% month on month in September, while August's figure stood at +1.2%, according to RTT News/dpa-AFX.
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what happened
According to RTT News/dpa-AFX, the US retail sales control group increased 0.1% month on month in September. The same source gave August's figure as +1.2%.
The control group is a closely watched subset of retail sales, used as a gauge of underlying consumer spending.
why it matters
The control group strips out the most volatile categories, so its moves better reflect steady consumer demand, which accounts for most of US GDP. A modest gain in September points to continued moderate activity in retail trade, a factor markets weigh when assessing the path of interest rates and Treasury yields.
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