U.S. retail sales jump 1.1%; iPhone effect? Stro

U.S. retail sales jump 1.1%; iPhone effect?
Strong September for autos, electronics and other consumer goods WASHINGTON (MarketWatch) — Americans ratcheted up their spending again in September, buying everything from back-to-school supplies to new autos to the latest version of the iPhone, government data showed Monday.

Retail spending rose a seasonally adjusted 1.1% last month, said the Commerce Department, which also revised higher sales for July and August. Economists surveyed by MarketWatch forecast a 0.9% increase for September.

Consumer spending accounts for more than two-thirds of the U.S. economy, so the higher level of retail sales suggests the growth in third quarter could end up somewhat stronger than economists have been expecting. Gross domestic product likely expanded at a 1.6% pace, up from 1.3% in the second quarter, according to the most recent MarketWatch forecast.
http://www.marketwatch.com/story/us-retail-sa...2012-10-15