Consumer spending is frequently used as the baseline for economic improvement so it is not surprising that many people eagerly await monthly information regarding retail store sales. Fortunately this month the news was great overall as it indicated some significant recovery in the economy all around the United States.
During the month of September Americans spent almost 4% more than they had been on average during the year. At first 4% might not seem like a big gain but this increase of 4% is in fact quite substantial as it means retailers and small business owners are seeing millions more dollars in revenue. This is a good thing for everyone as it means that the recovery of the U.S. economy and thus the worldwide economy is still carrying on strong.
Economic analysts worldwide say that this continued increase in retail sales and spending is great news as well since it has been a continuous increase. This month may have been the biggest increase so far but it is not the first increase; the combination of multiple months of successive increase in spending is incredible promising as it means that there is in fact more money moving and thus the economy is recovering. No word on if most economists expect this to have a significant impact on anything at this point though most are hopeful that this increasing trend toward more spending will likely continue through the rest of the year as well as the holiday season.