Retail sales surged in September and rose for the fifth month in a row as Americans bought more clothes and went out to eat more. But economists worry this won't last.
The numbers: Sales at U.S. retail stores surged in September and rose for the fifth month in a row as Americans bought more clothes, went out to eat and splurged on new cars and trucks, suggesting an economic recovery was still well underway at the start of fall.
Yet sales also rose in every other major category, except for electronic and appliance stores. Clothing sales leaped 11% at the start of the new school year and cooler weather approached. Sales also increased almost 10% at department stores. Restaurant sales are off about 14% compared to last year, however, and cooler temperatures could make it harder to serve more customers since fewer will be able to dine outside.
The big question is whether the momentum can carry into October. A number of large companies in entertainment and travel have announced layoffs as they struggle to regain their customers, a potential setback for the economy. The coronavirus is also spreading rapidly again in many U.S. states and could lead to more government restrictions on business.
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