US September Retail Sales Rise 0.2%, Missing Economist Forecasts

US retail sales grew 0.2% month-over-month in September, falling short of the 0.4% increase anticipated by surveyed economists, data released Tuesday show. Core retail sales, which exclude autos, gasoline, building materials, and food services, declined 0.1% for the month. The deceleration came after accelerated sales in prior months, partly driven by consumers purchasing electric vehicles before a tax credit expired at the end of September. Economists note current consumption is led primarily by high-income households, while middle- and lower-income consumers face cost pressures partly stemming from import tariffs.