The American Consumer Keeps Splurging

U.S. retail sales, which includes spending at stores, online and at restaurants, rose a solid 0.7% in September from a month earlier, the latest evidence that this summer’s strong display of consumer resilience persists. Last month’s retail-sales gain far exceeded economists expectations and joined an equally robust August increase. “Overall the consumer balance sheet is still quite strong,” said Kathy Bostjancic, chief economist at Nationwide Mutual Insurance.