US September Retail Sales Slightly Exceed Expectations

According to Odaily, U.S. retail sales in September saw a slight increase, surpassing expectations and supporting the view of strong economic growth in the third quarter. The monthly retail sales rate for September recorded a 0.4% increase, compared to an unrevised 0.1% rise in August. While these signs of economic recovery may not prevent the Federal Reserve from cutting interest rates again next month, they do reinforce the expectation of a 25 basis point rate cut.