US retail sales remain steady at $684B in September

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14.Oct .2022 23:00

US retail sales remain steady at $684B in September

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US retail sales remained steady in September, but came in lower than market expectation, according to the Commerce Department figures released on Friday.

Retail sales in the US stood at $684 billion last month. The market expectation was a gain of 0.2%.

The figure in August showed a rise of 0.4% from the previous month.

On an annual basis, however, retail sales rose 7.8% in September from the same month of last year.

"Gasoline stations (sales) were up 20.6% from September 2021, while non-store retailers were up 11.6% from last year," the Commerce Department said in a statement.

Although retail sales remained steady in September, this indicates that consumer demand still remains strong in the world's largest economy as high inflation continues to bite.

Annual consumer inflation in the US was 8.2% in September, easing slightly from an 8.3% yearly gain in August, according to Labor Department figures released on Thursday.