U.S . RETAIL SALES BEAT EXPECTATIONS ON HIGHER GASOLINE PRICES

What happened: U.S. retail sales rose more than expected in September, boosted by higher gasoline prices, while spending elsewhere was moderate. Key numbers: Retail sales rose 0.8 per cent after an upwardly revised 1.3 per cent gain in August. Economists forecast 0.3 per cent. Gasoline prices soared 7.1 per cent. Core retail sales edged up 0.1 per cent. Why it matters: The gasoline-driven gain could temper economists' expectations for another quarter of robust consumer spending growth. Inflation-adjusted wages fell again, and higher-income households are doing the heavy lifting. Coverage: 4 outlets in 24h

Retail sales beat expectations driven by higher gasoline prices.

Retail sales beat expectations driven by higher gasoline prices. — impact context not separately stored; see What changed.