Member access

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesHot NewsMost Read NewsRecomm.Business LeadersVideosCalendar 

NRF - National Retail Federation : Consumer Spending Surged in September, According to NRF

10/15/2012 | 01:55pm US/Eastern


For Immediate Release
Stephen E. Schatz (202) 626-8119
SchatzS@NRF.com

Consumer Spending Surged in September, According to NRF

WASHINGTON, October 15, 2012 - Propelled by solid sales in clothing and electronics stores, growth in retail sales in September offered a promising outlook for the critical holiday months ahead.  According to the National Retail Federation (NRF), September retail sales (excluding automobiles, gas stations and restaurants) increased 0.4 percent seasonally adjusted from August, and 2.1 percent unadjusted year-over-year.

"In spite of the uncertainty and unease surrounding our nation's high unemployment and long-term fiscal challenges, consumers continue to spend and shop," NRF President and CEO Matthew Shay said. "Robust back-to-school spending combined with a series of new, technology-led product launches certainly helped retailers in September. The American consumer is holding their own in this economic environment but the question remains, for how long?"

September retail sales, released today by the U.S. Department of Commerce, showed total retail and food services sales (which include non-general merchandise categories such as automobiles, gasoline stations, and restaurants) increased 1.1 percent seasonally adjusted month-to-month and 5.4 percent unadjusted year-over-year.

"With recent data painting a more optimistic view of consumer confidence, we can finally see some light at the end of the tunnel," NRF Chief Economist Jack Kleinhenz said. "While the latest retail sales data indicates continued improvement for the economy, increasing gas prices and the looming fiscal cliff still pose serious challenges to the momentum we've seen in consumer spending."

Other findings from the September retail sales report include:

•    Clothing and clothing accessories stores' sales increase 0.6 percent seasonally-adjusted month-to-month and 3.6 percent unadjusted year-over-year.

•    Electronics and appliance stores' sales increased 4.5 percent seasonally-adjusted month-to-month and 2.5 percent unadjusted year-over-year.

•    Furniture and home furnishing stores' sales increased 0.4 percent seasonally-adjusted month-to-month and 5.1 percent unadjusted year-over-year.

•    General merchandise stores' sales increased 0.3 percent seasonally-adjusted month-to-month but decreased 1.2 percent unadjusted year-over-year.

•    Health and personal care stores' sales increased 0.4 percent seasonally-adjusted month-to-month yet decreased 2.0 percent unadjusted year-over-year.

•    Nonstore retailers' sales increased 1.8 percent seasonally-adjusted month-to-month and 8.7 percent unadjusted year-over-year.

•    Sporting goods, hobby, book and music stores' sales increased 0.8 percent seasonally-adjusted month-to-month and 3.9 percent unadjusted year-over-year.

Congruent with NRF's revised definition of retail sales to include "auto parts, accessories and tire stores" and "nonstore" sales, NRF is now projecting year-over-year retail sales growth of 4.5 percent. The revised definition seeks to be more representative of the retail industry's diversity, and better reflect the growth and economic influence of e-commerce and mobile retail sales.

As the world's largest retail trade association and the voice of retail worldwide, NRF represents retailers of all types and sizes, including chain restaurants and industry partners, from the United States and more than 45 countries abroad. Retailers operate more than 3.6 million U.S. establishments that support one in four U.S. jobs - 42 million working Americans. Contributing $2.5 trillion to annual GDP, retail is a daily barometer for the nation's economy. NRF's Retail Means Jobs campaign emphasizes the economic importance of retail and encourages policymakers to support a Jobs, Innovation and Consumer Value Agenda aimed at boosting economic growth and job creation. www.nrf.com

###



distributed by
React to this article
Latest news
Date Title
04:12a IMAGINATION TECHNOLOGIES : Says Toshiba Grows Application Processor Range
04:12a MAGFORCE : Announces that Kiel University Hospital (UKSH) has Initiated Commercial NanoTherm(TM) Treatment for Brain Cancer
04:12a AVOLON : Delivers a New A321 Aircraft to Philippine Airlines
04:11a Bank of England, stung by scandals, flags market concerns
04:08a XTRACT RESOURCES : Gets Option To Acquire Copper Tailings Project In South Africa
04:07a APPLE : Trade-in program expected to give boost to iPhone sales
04:07a ING GROEP : Banking on the dynamics of China's 'new normal'
04:07a MTY NV : Gateway to Europe open for business
04:07a CORAC : Signs Ten-Year Commercial Deal With Spirax-Sarco
04:07a PETROCHINA : hit by drop in profit
Latest news
Advertisement
Hot News 
MORPHOSYS : to Host Conference Call on Announcement Regarding the Termination of the Co-development and Co-promotion Agreement for MOR202
IMIMOBILE : confident of bright future in strong trading year
NB PRIVATE EQUITY PARTNERS : NBPE Announces Extension of Share Buy-back Programme
AAREAL BANK : Gruppe veröffentlicht Geschäftsbericht 2014 (News mit Zusatzmaterial) (DGAP News)
MAGFORCE MAGFORCE ANNOUNCES THAT KIEL UNIVERSITY HOSPITAL (UKSH) HAS INITIATED COMMERCIAL NANOTHERM(TM) TREATMENT FOR BRAIN CANCE : MagForce AG: MagForce AG Announces that Kiel University Hospital (UKSH) has Initiated Commercial NanoTherm(TM) Treatment for Brain Cancer (DGAP News)
Most Read News
03/26 DEUTSCHE LUFTHANSA : EDITORIAL: The mystery of Germanwings Flight 9525
03/26 CANFOR : and Canfor Pulp Products Inc. Announces Annual General Meeting and First Quarter Results Conference Call
03/26 ENDURO ROYALTY : Provides Updated Tax Information
03:39a ROYAL BANK OF SCOTLAND : Swiss private bank UBP says to buy RBS's Coutts International
03/26 AMERICAN APPAREL : Ousted American Apparel chief seeks $40M over firing
Most recommended articles
04:11a Bank of England, stung by scandals, flags market concerns
03:59aDJAP Moller-Maersk Offers Danske Bank Shares for Sale at DKK177.27
03:58a Peugeot, Mitsubishi to suspend production at Russia plant
03:54a France's Valls predicts growth rate above 1.5 percent before 2016
03:48a Senate passes Republican budget with deep spending cuts
Dynamic quotes  
ON
| OFF