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Strong auto purchases buoy U.S. retail sales; inflation stirring | Reuters

U.S. retail sales rebounded in September amid a surge in motor vehicle purchases and a rise in discretionary spending, pointing to sustained domestic demand that reinforces expectations of an interest rate increase from the Federal Reserve in December.

Other data on Friday suggested a pickup in inflation, with producer prices rising broadly last month to record their biggest year-on-year increase since December 2014. The reports were the latest indication that the economy regained momentum in the third quarter after a lackluster first-half performance.

The Commerce Department said retail sales increased 0.6 percent after declining 0.2 percent in August. Sales were up 2.7 percent from a year ago.

via www.reuters.com


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