Log in
Login
Password
Remember
Lost password
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

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
07:07p FORD MOTOR : Fairlawn firm's new app gets Ford's attention as it puts dealerships and millennial car shoppers in mind
06:52p SANTA BARBARA RESOURCES : Shareholder Meeting Results
06:50p CANADA ENTERS RECESSION : USDCAD Primed for Volatility
06:47p FRONTIER RESOURCES : IFR Announces Entry into Round 1.3 of Historic Mexico Energy Reform
06:45p Australian Dollar May Fall Further on Evolving Fed, RBA Policy Bets
06:45p COMERICA : Two Fort Worth Nonprofits Awarded $22K in Grants to Support Housing and Business Development
06:43p WHOLE FOODS MARKET : California Whole Foods guard investigated in beating
06:43p IMAGINON : Reminder: Regionals, Main and ImaginOn to resume Sunday hours starting Sept. 13
06:42p FEDEX : Delivers Disaster Relief Supplies for Dominica
06:41p WALTER INVESTMENT MANAGEMENT : Announces Settlement With the U.S. Department of Housing and Urban Development and the U.S. Department of Justice
Latest news
Advertisement
Hot News 
DOMINO PRINTING SCIENCES : Partners with Express Packaging
IS SOLUTIONS : To "Significantly Exceed" Market View After Strong Start
BIOVENTIX : Trading Update and Notice of Results
SCISYS : Allays Banking Covenant Breach Fears After Lender Talks
VINCE : Reports Second Quarter and First Half Fiscal 2015 Results; Revises guidance for fiscal 2015
Most Read News
06:32p EQUITY ALERT : Rosen Law Firm Announces Filing of Securities Class Action Lawsuit Against Whole Foods Market, Inc. to Recover Investor Losses - WFM
06:31p TRADING ALERT : Rosen Law Firm Reminds Constant Contact, Inc. Investors of Important Class Action Deadline - CTCT
06:32p EQUITY ALERT : Rosen Law Firm Announces Filing of Securities Class Action Lawsuit Against American Express Company to Recover Investor Losses -- AXP
06:35p EQUITY ALERT : Rosen Law Firm Announces Filing of Securities Class Action Lawsuit Against Abengoa, S.A. to Recover Investor Losses - ABGB
06:12p COLORADO WYOMING PETROLEUM MARKETERS ASSOCIATION : EPA Sends Ozone Proposed Rule to White House - PMAA Responds
Most recommended articles
06:50p CANADA ENTERS RECESSION : USDCAD Primed for Volatility
06:45p Australian Dollar May Fall Further on Evolving Fed, RBA Policy Bets
06:40p Gold Heavy on Dollar Strength, NFPs– September Opening Range in Focus
06:35p RBNZ to Provide Insight of External Forces on NZ Economy
06:25p US Dollar Direction Depends on Two Critical Weeks Ahead