Research Brief: Retail Sales- September 2025
Spending still up across most categories. After recent revisions, core retail sales rose 0.4 percent in real terms during both July and August, highlighting U.S. consumers’ resilience amid the weakening labor market and tariff-related price pressures. Spending last month was also encouraging on an annual basis, as core retail sales were up 5.4 percent. That said, the full effect of tariffs likely have yet to fully materialize…