STRONG RETAIL SALES AND FACTORY OUTPUT POINT TO ROBUST US GROWTH IN THIRD QUARTER

U.S. retail sales increased more than expected in September as households stepped up purchases of motor vehicles and spent more at restaurants and bars, cementing expectations that economic growth accelerated sharply in the third quarter.

The economy's enduring strength has defied the hand-wringing since late 2022 about a possible recession this year. Its stamina was underscored by other data on Tuesday showing production at factories rising solidly last month despite strikes in the automobile industry.

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