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October 14, 2005
Oil Prices Prop Up Retail Sales
Retail sales were up 0.2% in September after slipping 1.9% in August, according to the U.S. Commerce Department. The gain was pinned primarily on high oil prices.
Stripping away gas stations, retail sales slipped 0.2% during the month. The slower spending came amid a 1.2% increase in consumer prices.
Although the poor results could in great part have been affected by Hurricanes Katrina and Rita, the Commerce Department was loath to pin all the blame on the storms.
Posted by Blacks on October 14, 2005 02:56 PM
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