The September US retails sales report was significantly better than expected, posting a month-on-month gain of 0.7% versus 0.3% expected while retail sales growth for August has also been revised higher to 0.8% from 0.6%. It is a dollar value figure and higher gasoline prices have helped, but not hugely so (gas station sales up 0.9% MoM). We knew auto volume sales were up healthily and this is reflected in a 1% MoM gain in autos and parts. Miscellaneous was where there was considerable strength, rising 3% MoM, but this is a volatile series having been down 3.6% in August and down 1.4% in July. Non-store retailers ... (full story)