Retail Sales Rise in September, Driven by Auto and Online Purchases

Retail sales rose 0.7% in September, more than expected, boosted by strong auto and online sales.

Auto sales were up 1% and accounted for 20% of the increase. Gasoline sales rose due to higher prices.

Internet retail sales continued to grow, up 1.1%. Restaurant and bar sales increased 0.9%.

Sales fell at electronics, clothing, and home improvement stores like Home Depot and Lowe's.

Retail sales suggest the economy continues expanding at a healthy pace despite higher interest rates. Consumer spending remains fairly strong.