Retail sales in September increased 4.5% were up unadjusted year-over-year, according to the National Retail Federation. The numbers exclude automobile dealers, gasoline stations and restaurants.
“The pullback in September compared with August is possibly a reaction to increased fears over U.S.-China tensions,” NRF Chief Economist Jack Kleinhenz said. “While uncertainty around trade policy and other issues dampened consumer sentiment recently, consumers still have a lot going for them as evidenced by longer-term trends and factors like the tight labor market."
September is a tricky month to measure because of seasonal factors like the end of summer and back-to-school spending, and this year’s early Labor Day may have moved up some spending into the last days of August.
As of September, the three-month moving average was up 4.9 percent over the same period a year ago, compared with 4.1 percent in August. September’s results build on gains of 0.5 percent month-over-month and 4.7 percent year-over-year in August.
Specifics from key retail sectors during September include:
· Online and other non-store sales were up 15.6 percent year-over-year.
· Health and personal care stores were up 4.2 percent year-over-year.
· Grocery and beverage stores were up 2.6 percent year-over-year.
· Building materials and garden supply stores were up 2.5 percent year-over-year.
· Furniture and home furnishings stores were up 1.1 percent year-over-year.
· Sporting goods stores were unchanged year-over-year.
· General merchandise stores were down 0.2 percent year-over-year.
· Clothing and clothing accessory stores were down 0.7 percent year-over-year.
· Electronics and appliance stores were down 1.7 percent year-over-year.
About The National Retail Federation
The NRF is the world’s largest retail trade association, representing discount and department stores, home goods and specialty stores, Main Street merchants, grocers, wholesalers, chain restaurants and Internet retailers from the United States and more than 45 countries. Retail is the nation’s largest private-sector employer, supporting one in four U.S. jobs – 42 million working Americans. Contributing $2.6 trillion to annual GDP, retail is a daily barometer for the nation’s economy.
