Retail sales slow in September ahead of holiday season
Consumers hit the pause button on spending in September after a busy summer and back-to-school season.
Core retail sales (excluding restaurants auto dealers and gasoline stations) fell 0.49% month over month in September, and rose 5.72% year over year, according to the CNBC/Retail Monitor released by the National Retail Federation. That compared with an increase of 0.26% month over month in August.
Total retail sales (including restaurants but excluding autos and gasoline) fell 0.66% month over month in September. Sales rose 5.42% year over year.
"While month-over-month spending data has fluctuated as consumers have reacted to changing circumstances, year-over-year gains show robust growth and signal momentum as we head into the holidays," said NRF President and CEO Matthew Shay.
September sales were down in five out of nine categories on a monthly basis, led by furniture and home furnishings stores where sales dropped 1.87%.
Specifics from key sectors are below.
- Digital products (such as electronic books and games) were up 0.52% month over month and up 21.35% year over year.
- Sporting goods, hobby, music and book stores were up 0.74% month over month and up 8.81% year over year.
- Clothing and accessories stores were down 1.06% month over month but up 7.35% year over year.
- General merchandise stores were down 0.62% month over month but up 5.52% year over year.
- Grocery and beverage stores were down 0.76% month over month but up 4.79% year over year.
- Health and personal care stores were up 0.38% month over month and up 4.65% year over year.
- Electronics and appliance stores were down 0.12% month over month but up 4.43% year over year.
- Furniture and home furnishings stores were down 1.87% month over month but up 0.56% year over year.
- Building and garden supply stores were up 0.53% month over month but down 1.2% year over year.
Unlike survey-based numbers collected by the Census Bureau, the Retail Monitor uses actual, anonymized credit and debit card purchase data compiled by Affinity Solutions and does not need to be revised monthly or annually.
