NRF: Retail saw ‘solid sales performance’ in September |
Written by Christine D. Johnson |
Thursday, 31 October 2013 09:13 AM America/New_York |
National Retail Federation (NRF) issued its September sales figures this week, indicating broad sales gains in most retail sectors. The report, which excludes automobiles, gas stations and restaurants, shows that retail sales increased a healthy 0.6% seasonally adjusted from last month and 3.8% unadjusted year-over-year. “Retailers witnessed a solid sales performance in September, with marked gains in all sectors, excluding clothing,” NRF President and CEO Matthew Shay said. “The American consumer remains ever-cautious and value-driven, but continues to spend. Only time will tell if and when the government shutdown and debt ceiling debacle will impact retailers and consumers this fall and winter. The true economic impact of Washington’s inability to enact policies that enhance and sustain economic growth and certainty remains to be seen.” September retail sales, released Tuesday by the U.S. Census Bureau, showed that total retail and food services sales, which include non-general merchandise categories such as automobiles, gasoline stations and restaurants, decreased 0.1% seasonally adjusted month-to-month yet increased 3.2% adjusted year-over-year. “Falling gas prices combined with rising housing and stock prices continue to support consumer spending and the broader economy,” NRF Chief Economist Jack Kleinhenz said. “While far from robust, consumers are shopping, but they are spending both discriminately and moderately. Volatility still persists in various retail sectors, but spending has somewhat stabilized heading into the all-important holiday shopping season.” Additionally, book, music, hobby and sporting goods stores’ sales increased 0.5% seasonally-adjusted month-to-month and 0.9% unadjusted year-over-year. |