Auto sales in September were something of a dark spot on an otherwise bright outlook for the economy, Bloomberg reported.
Total retail sales in the U.S. dropped 0.1 percent, restrained by the biggest decrease at auto dealers since October 2012, as purchases early in the month were included in the August data.
While buyers held back on purchasing vehicles, they did shop for the latest cell phones and video games in spite of the 16-day government shutdown.
"Consumers continue to hold on despite all the uncertainty going into the shutdown," said Millan Mulraine, director of U.S. rates research at TD Securities USA LLC in New York, who accurately projected the gain in sales excluding autos. "We ended the quarter on a fairly solid note. Whether this buoyancy can be sustained remains a question after the hit to consumer confidence from the shutdown."
Sales dropped 2.2 percent at auto dealers, after a 0.7 percent increase the prior month, according to the Bloomberg report. Despite a quirk in the industry calendar that hurt sales last month, data show that the auto industry is holding its own.
Cars and light trucks sold in September at a 15.2 million annual pace, down from an almost six-year high of 16 million the prior month, according to data from Ward's Automotive Group. Deliveries for the first two days of September, including the Labor Day holiday, didn't contribute toward automakers' tallies because they were counted in August figures.
Toyota Motor Corp., Honda Motor Co. and Nissan Motor Co. reported U.S. sales declines last month, with fewer weekend selling days and tight supplies of some models after August's surge. General Motors Co. and Ford Motor Co. said earlier this month that the government shutdown posed a threat to an already slow economic recovery.
See Now: OnePlus 6: How Different Will It Be From OnePlus 5?
