Consumers spooked? US retail sales dip 0.3% in September

By Martin Crutsinger The Associated Press

5 years ago

In a Sept. 23, 2019, photo, shoppers examine refrigerators at a Home Depot store in Boston. On ... — In a Sept. 23, 2019, photo, shoppers examine refrigerators at a Home Depot store in Boston. On Wednesday, Oct. 16, the Commerce Department said U.S. retail sales dropped 0.3% in September, the largest dip in 7 months. (AP Photo/Steven Senne)

In this Aug. 25, 2019, photo unsold Murano sports-utility vehicles sit at a Nissan dealership in Highlands Ranch, Colo. On Wednesday, Oct. 16, the Commerce Department releases U.S. retail sales data for September. (AP Photo/David Zalubowski)

WASHINGTON — Retail sales dropped in September by the largest amount in seven months, possibly signaling that rising trade tensions and turbulent markets are having an impact on consumer spending.

The Commerce Department said Wednesday that retail sales fell 0.3% last month following a 0.6% gain in August. It was the first decline since a 0.5% drop in February.

Consumer spending was strong in the spring and economists had been counting on continued strength to protect the U.S. economy as it is buffeted by the fallout from President Donald Trump’s trade war with China.

The spending decline in October, which was unexpected, was influenced by special factors including a big 0.7% decline in sales at gasoline stations, a decline that likely reflected falling gas prices during the month.