Retail spending slowed in September among all U.S. consumers and a sample of credit union members spending via debit and credit cards.
The U.S. Census Bureau reported Tuesday that seasonally adjusted retail sales rose 0.7% from August to $704.9 billion in September, following a 0.8% gain in August.
NAFCU Economist Noah Yosif said "the pace of growth as well as its pervasiveness across a majority of surveyed goods and services elevates concerns of a rebound in inflation, but also dispels the notion of a weakening consumer balance sheet."
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