Retail sales rose in September as Americans bought more cars and gasoline. Separate data showed manufacturing in New York state shrank for the third month in a row.
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CRAIG DISMUKE, CHIEF ECONOMIC STRATEGIST, VINING SPARKS, MEMPHIS, TENNESSEE
"Across the board it looks better. The sales of iPhones might have something to do it with a 4.5 percent rise in the electronics and appliances sales. This is a good end of third quarter and we have some good momentum to the fourth quarter. We might add a few tenths (of a percentage point in growth) to the third quarter GDP."
TODD SCHOENBERGER, MANAGING PRINCIPAL AT THE BLACKBAY GROUP IN NEW YORK
"Retail sales weren't a big surprise. Sentiment and confidence have been higher, as has the stock market, so people are going out to spend money. Also, weather has been nice, which gets people shopping. This paints a very good picture for the holiday season.
"The Empire State number isn't a big surprise either, but consumers are such an important part of the economy that everyone will be focusing on retail sales."
(Americas Economics and Markets Desk; +1-646 223-6300)