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 | 12:55pm 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
12:11aDJSUN HUNG KAI PROPERTIES : Correction to Sluggish Sales Hit Sun Hung Kai Earnings Story Friday
12:09a SHOPRITE : THINGS to do
12:05a IDREAMSKY TECHNOLOGY : Announces GDC Session Led by President Jeff Lyndon on Future Developments of the China Mobile Game Industry
12:04a GOOGLE 'C' : Use These Content Marketing Strategies For Effective SEO In 2015 Says Bizwaremagic.com
12:03a TRIPADVISOR : Grace Bay Beach Recognized as a Top Beach in the World
12:02a U.S. CENSUS BUREAU : Daily Feature for February 28
02/28 BUSINESS MACHINES : Report: IBM “Leads the Pack” in Global Infrastructure Outsourcing; Support for Hybrid Cloud Computing Tops IO Agenda
02/27 HAWAIIAN ELECTRIC : PUC orders HECO to approve solar systems
02/27 2015 State of Addiction Brings Together Industry and Political Influencers to Discuss Hollywood's Relationship With Addiction
02/27 ENMORE : (formerly CBI BIZ) to Hold 16th China Oil Trading Conference in Shanghai
Latest news
Advertisement
Hot News 
ALPHATEC : posts 4Q loss
GIGA TRONICS : Entry into a Material Definitive Agreement, Unregistered Sale of Equity Securities, Financial Statements and Exhibits (form 8-K)
TCPI : is Evaluating Claims Filed on February 26th, 2015
OPTOS : Shares Surge Higher On Recommended Takeover Bid From Nikon
Weight Watchers Loses Money, Members -- 2nd Update
Most Read News
02/27 TRUE PCL : set to double broadband network
02/27 NORFOLK SOUTHERN : Bakken oil transport details might not be in York County responders' hands
02/27 Private equity firm TowerBrook close to a deal for women's retailer J. Jill - sources
02/27 Google submits plans to expand Silicon Valley headquarters
02/27 NAVIENT : Pioneer Credit expected to cut up to 400 jobs in Arcade
Most recommended articles
12:11aDJSUN HUNG KAI PROPERTIES : Correction to Sluggish Sales Hit Sun Hung Kai Earnings Story Friday
02/27 Union, Shell to resume talks in U.S. refinery strike on March 4
02/27 Brazil probe of dictatorship period not satisfied by Volkswagen testimony
02/27DJFed's Yellen Meets With Conservative Activists
02/27 WEEKLY TRADING FORECAST : Expect Heavy Seas Between NFPs, ECB and RBA
Dynamic quotes  
ON
| OFF