Somewhat soft sales in September
E-commerce sales factored heavily on the latest tally of retail sales for September, as nonstore retailers were up 11.4% compared to the same month last year.
Meanwhile, sales during September at building material and garden equipment and supplies dealers (NAICS 444) were up 1.5% on an adjusted basis compared to the same month last year, and up 0.1% compared to August. On an unadjusted basis, NAICS 444 sales declined compared to last month and compared to last year.
The above figures are from the Advance Monthly Sales report, issued by the U.S. Census Bureau. The report estimates that total sales for U.S. retail and food services for September, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $509.0 billion, up 0.1% from the previous month, and up 4.7% above September 2017.
“Retail sales were somewhat softer than expected in September and some of the weakness can be attributed to Hurricane Florence and geopolitical trade concerns,” NRF Chief Economist Jack Kleinhenz said. “Recent solid wage gains and other fundamentals continue to propel spending, which has been supported by tax cuts, saving and access to credit. Today’s numbers confirm an underlying strength in the industry and a solid trajectory as we go into the fourth quarter.”
September sales were up 4.5% on a three-month moving average compared with the same period a year ago.
The September numbers come as retail continues a long-term pattern of increased sales. Total retail sales have grown year-over-year every month since November 2009, and retail sales as calculated by NRF – excluding automobiles, gasoline stations and restaurants— have increased year-over-year in all but one month since the beginning of 2010.
Meanwhile, sales during September at building material and garden equipment and supplies dealers (NAICS 444) were up 1.5% on an adjusted basis compared to the same month last year, and up 0.1% compared to August. On an unadjusted basis, NAICS 444 sales declined compared to last month and compared to last year.
The above figures are from the Advance Monthly Sales report, issued by the U.S. Census Bureau. The report estimates that total sales for U.S. retail and food services for September, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $509.0 billion, up 0.1% from the previous month, and up 4.7% above September 2017.
“Retail sales were somewhat softer than expected in September and some of the weakness can be attributed to Hurricane Florence and geopolitical trade concerns,” NRF Chief Economist Jack Kleinhenz said. “Recent solid wage gains and other fundamentals continue to propel spending, which has been supported by tax cuts, saving and access to credit. Today’s numbers confirm an underlying strength in the industry and a solid trajectory as we go into the fourth quarter.”
September sales were up 4.5% on a three-month moving average compared with the same period a year ago.
The September numbers come as retail continues a long-term pattern of increased sales. Total retail sales have grown year-over-year every month since November 2009, and retail sales as calculated by NRF – excluding automobiles, gasoline stations and restaurants— have increased year-over-year in all but one month since the beginning of 2010.