Rising Retail Sales in the US

Retail sales in the United States increased by a seasonally adjusted 0.6% in August compared to the previous month, marking the fifth consecutive month of gains, according to the Commerce Department. This growth was partly attributed to a spike in gasoline prices. Despite this positive trend, experts are warning that rising gas prices may soon affect consumer spending. "The price of gas is where people start to feel inflation fastest," said JJ Kinahan, CEO of IG North America and president of brokerage tastytrade.

Holiday Season Sales Forecast

Consulting firm AlixPartners has forecasted a slower growth rate of 3% to 6% for U.S. retail sales during this year's holiday season, compared to the 6.6% growth recorded last year. This prediction suggests a potential cooling off in consumer spending.

Increasing Mortgage Payments

Real-estate data firm Redfin reported that the median monthly mortgage payment in the United States reached an all-time high of $2,632 during the four weeks ending September 10. This significant increase further highlights the financial pressures faced by homeowners today.

West Marine Restructures Debt

West Marine, a retail chain specializing in boating and fishing supplies, has successfully restructured its approximately $800 million debt without going to court, as reported by The Wall Street Journal.