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Retail sales dip for first time in months

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October 17, 2019

Retail sales in the U.S. in September dipped for the first time in seven months and could prompt an interest rate cut in a few weeks.

The dip may be attributed to the ongoing U.S. and China trade war, according to a Reuters report.

"Weaker retail numbers provide further evidence that weakness in the manufacturing sector is spilling over into other areas of the economy," Jim Baird, chief investment officer at Plante Moran Financial Advisors, told Reuters.

Yet consumer spend grew 4.6% in the second quarter, the biggest in 18 months, according to the report.