Resilient Consumers Still Spending in September

Resilient Consumers Still Spending in September

Consumers Keep Spending
Consumers are still spending, showing remarkable resilience. Retail sales rose 0.7% in September, coming off a strong 0.8% increase in August.

  • The strong jobs market and income growth that is on pace with inflation fuels spending.

  • Consumers using credit cards is also up.

Details: Big drivers of the gains in September were car sales, online purchases, and sales at miscellaneous retailers. Purchases at restaurants, bars, and gas stations were robust, too.

Big picture: A strong economy will keep consumers confident and spending. To strengthen the economy businesses need pro-growth policiesthat address the worker shortage and advance a bold trade agenda.