A long-delayed batch of U.S. economic data released Tuesday showed retail sales growing more slowly than analysts anticipated in September, while producer prices rose exactly in line with forecasts.
The Commerce Department reported that retail sales increased 0.2% in September, easing from the 0.6% gain posted in August. Economists had been looking for a stronger 0.4% rise.
Stripping out motor vehicles and parts—which saw a decline—sales were up 0.3%, compared with a 0.6% advance in the prior month. Consensus expectations had called for a 0.4% ex-auto increase.
Meanwhile, a separate release from the Labor Department showed wholesale inflation matching projections. The producer price index for final demand rose 0.3% in September, reversing the 0.1% decline recorded in August.
On a year-over-year basis, producer prices were up 2.7%, identical to the upwardly revised annual rate reported for August. Economists had anticipated a slight pickup to 2.7% from the originally published 2.6%.