US retail sales rose in September
US retail sales gave a strong performance in September 2016, rising 0.6%, as compared to the 0.2% fall in August 2016, and meeting the market expectation of a 0.6% rise.
This rise was mainly due to the increased sales of motor vehicles, building materials, and furniture. Sales of building materials rose 3.9%, as compared to a fall of 2.5% in August 2016.
Meanwhile, sales of automobiles rose 1.1% in September, as compared to a fall of 0.3% in August. Sales from online retailers rose 0.3%, and sales from restaurants and bars rose 0.8% in September 2016. Excluding auto sales, other sales rose 0.5% after falling 0.2% in August.
The rise in US (QQQ) (SPY) (SPXL) retail sales signifies that consumer spending is rising. Remember, consumer spending is one of the most important drivers in the US economy and indicates that consumers are optimistic. Improvements in job creation and slow improvements in wage growth are also providing confidence to the US economy (IVV) (IWM) (VFINX).
Continue to the next and final part for a look at investor confidence in the Eurozone in October 2016.