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Consumers stepped back to department stores, furniture outlets, clothing chains and grocers during September creating a softer decline in retail sales than was anticipated. Analysts had expected a sharper retrenchment after the termination of the government's support for the auto industry. After a 2.2% gain in August sales declined by 1.5% for September, but managed a 0.5% decline when autos are stripped out. The encouraging news on the health of the consumer was one factor in supporting a vibrant stock market on Wednesday. The flipside was a fall in the value of the dollar to a 14 month low against a basket of major trading partners' currencies.
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