This past month, sales for retailers and restaurants grew at a rate much higher than anticipated by economists. Despite fears of an economic downturn, U.S. consumers finished the summer with spending habits that did not indicate any cutbacks. In September, sales grew by 0.4% from the previous month according to data from the Census Bureau. This is an increase from 0.1% growth in August. According to an article from the Wall Street Journal, this data alongside current unemployment filing rates depicts a cooling but still-robust economy as the U.S. heads into the presidential election. Even over the past 12 months, retail sales have climbed nearly 1.7%, not adjusted for inflation. While rising unemployment rates over the summer brought some fear the economy was approaching a downturn, the data as summer comes to a close shows that the labor market and signs of consumers’ financial health present a more resilient image…
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