The unexpectedly strong 1.9% rise in retail sales last month suggests the economy was carrying more momentum into the fourth quarter than anticipated, defying fears that the expiry of enhanced unemployment benefits in the summer would harm the economy. But with new coronavirus infections on the rise, we are not rushing to revise up our forecast that GDP growth will slow to 4% annualised in the fourth quarter.

Read the publication Retail Sales (Sep.) on the Capital Economics Website.

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