Storms surge and US retail sales surge; most in 2 1/2 years
WASHINGTON — Americans increased their spending at retailers last month by the most in two and a half years, driven by strong auto sales as residents of hurricane-ravaged areas replaced destroyed cars.
Retail sales rose 1.6 per cent in September, after slipping 0.1 per cent in August, the Commerce Department said Friday.
Auto sales jumped 3.6 per cent, the most since March 2015. Gas sales climbed 5.8 per cent, the most in four and a half years, reflecting price spikes after Hurricanes Harvey and Irma. The storms damaged oil refineries and pushed up gas prices 13 per cent last month.
Even excluding the volatile auto and gas categories, sales rose a solid 0.5 per cent, up from a 0.1 per cent gain in August.