Retail sales in USA grew 2% in September, Commerce Dept. says

Retail Sales Rose 1.9% in September

US: Retail Sales rise by 1.9% in September vs. 0.7% expected

These gains represented a more than tripling of the 0.6% sequential increase, from July to August and almost doubling August's 2.8% annual gain, with both monthly annual and sequential retail sales up every month since June, which was preceded by major declines related to the COVID-19 pandemic.

And NRF pointed to September retail sales, which were paced by apparel, continuing a V-shaped recovery from the pandemic, with sales growing for the fourth consecutive month.

Product sales at motor-vehicle dealerships, which make up about 20% of entire retail product sales, rose by a sturdy 3.6% in September.

Commerce reported that retail trade sales saw a 1.9% gain, from August to September, and rose 8.2% annually.

Retail Sales in USA rose more than expected in September. With less spending on personal services such as travel and entertainment outside the home, some of that money is shifting to retail cash registers.

But the outlook for the overall economy remains murky.

The month-on-month increase was more than triple expectations and also 5.4 percent higher than the same month in 2019 despite the severe economic downturn caused this year by the coronavirus pandemic.

Clothing and clothing accessory stores were up 11% month over month seasonally adjusted, but down 12% unadjusted year over year.

Sporting goods stores were up 5.7 percent month-over-month seasonally adjusted and up 18.3 percent unadjusted year-over-year.

General merchandise stores were up 1.8% month over month seasonally adjusted and up 4.1% unadjusted year over year. Electronics and appliance stores were the only major segment to post a decline.

But those provisions have expired and lawmakers have been unable to agree for months on another measure that could restore the support, raising fears Americans wary of economic conditions will stop spending.

Online and other non-store sales were up 0.5 month-over-month seasonally adjusted and up 27 percent unadjusted year-over-year.

Nonetheless, economists say the high rate of personal savingconsumers socked away 14.1% of disposable income this August in distinction with 7.3% a 12 months earlierhas given households gasoline to spend, whatever the decrease to a further $600 per week in jobless benefits on the end of July.

Building materials and garden supply stores were up 0.6 percent month-over-month seasonally adjusted and up 23.4 percent unadjusted year-over-year.

Furniture and home furnishings stores were up 0.5 percent month-over-month seasonally adjusted and up 7.5 percent unadjusted year-over-year.

Food and beverage stores were virtually unchanged month over month seasonally adjusted, but up 11.5% unadjusted year over year. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article.

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