US retail sales miss forecast in September

US retail sales rose less than expected last month, figures released on Wednesday showed.

According to the Department of Commerce, retail sales rose 0.1% month-on-month compared with a flat reading in the previous month and with analysts’ expectations for 0.2% increase.

Auto sales were again among the best performers, rising 1.7% from the previous month, while gas sales declined as expected 3.2%

However, total sales excluding autos and gas were flat, as a decline in sales at Internet retailers, general stores, groceries and outlets selling appliances and electronics was offset by an increase in sales at clothing stores and restaurants.

“For all the talk of a US interest rate hike, there is still no stand-out data to compel Fed chair Janet Yellen into action,” said Dennis de Jong, managing director at UFX.com

“The retail sales numbers are similar to many figures coming out of the world’s largest economy; slightly positive but not strong enough to be conclusive. With autos excluded, the figures are negative. It continues to paint a muddled picture of the direction in which the US is heading.

“Nevertheless, the debate on a rate increase will continue to rumble on, with many now expecting March 2016 to be the earliest date for a change.”