US Retail Sales Likely Rose in September; Higher-Income Consumers Drive Growth

U.S. retail sales excluding motor vehicles and parts likely posted further gains in September, data from the Chicago Federal Reserve showed on Wednesday, though part of the rise probably reflected higher prices.

The Chicago Fed Advance Retail Trade Summary estimated that retail sales excluding autos and parts increased by a seasonally adjusted 0.5% last month after advancing 0.7% in August. 

The moderation in sales likely reflects consumer caution amid higher prices from import tariffs and a slowing labor market that is adding to uncertainty over the economy's outlook...

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