For those concerned about the state of the U.S. economy, the September retail sales figures offered some reassurance. In the latest month, total U.S. retail sales increased +5.0% on a year-over-year basis. This is exactly in line with the desirable long-term growth rate. However, beyond consumer confidence, there are three other effects that will impact on retail sales in the months ahead. These relate to the lower-valued U.S. dollar, housing markets and wealth assessment.

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