Hardware Retailing The Industry's Source for Insights and Information
Retail sales increased 0.6 percent seasonally adjusted from last month, and 3.8 percent unadjusted year-over-year, according to the National Retail Federation. Building material and garden equipment and supplies dealers stores’ sales also increased 0.1 percent seasonally adjusted.
“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, recently released by the U.S. Census Bureau, showed total retail and food services sales, which include non-general merchandise categories such as automobiles, gasoline stations, and restaurants, decreased 0.1 percent seasonally adjusted month-to-month yet increased 3.2 percent 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.”
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