The US Department of Commerce announced an increase in retail sales by 0.6 percent in August, based on increased car sales and a wide range of other goods. July showed a 0.3 percent rise sales as well.
These figures, combined with an improved measure of consumer confidence, which reached a 14-month high in September, are allaying fears about the US economy, helping to spur further growth.
“It is further indication that the underlying positive momentum in the US economy is being sustained,” said Millan Mulraine, deputy chief economist at TD Securities.
The consumer sentiment index of the Thomson Reuters/University of Michigan, reached 84.6 in the early days of September, which was the highest number sinc3e July 2013. In August the index was at 82.5.