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October retail sales encouraging

Washington - Despite and government shutdown and confusion over the ACA website rollout, retail sales held up fairly well in October, and the National Retail Federation said they could bode a good holiday season.
October retail sales, excluding automobiles, gas stations and restaurants, rose 2.5% seasonally adjusted over September, and 4.2% unadjusted from 2012.
Sales at furniture and home furnishing stores' sales increased 1.0% seasonally-adjusted month-to-month and 8.2% unadjusted year-over-year.

"Consumer spending is growing as we head into the holiday shopping season and the timing couldn't be better," NRF president and ceo Matthew Shay said.
The U.S. Census Bureau report for October sales, which includes non-general merchandise categories such as automobiles, gasoline stations, and restaurants, found a 0.4% boost seasonally adjusted month-to-month, and a 3.9% gain adjusted year-over-year.

"The ever-resilient consumer continues to deliver better economic news," NRF chief economist Jack Kleinhenz said. "Various retail segments contributed to this month's growth showing that there is an ongoing pent-up demand by consumers. Confidence and sales should continue to improve."

Performance in other retail sectors included:

  • Building material and garden equipment and supplies dealers stores' sales decreased 1.9% seasonally-adjusted yet increased 4.7% unadjusted year-over-year.
  • Clothing and clothing accessories stores' sales increased 1.4% seasonally-adjusted month-to-month and 4.7% unadjusted year-over-year.
  • Electronics and appliance stores' sales increased 1.4% seasonally-adjusted month-to-month and 5.6% unadjusted year-over-year.
  • General merchandise stores' sales increased 0.2% seasonally-adjusted month-to-month and 1.4% unadjusted year-over-year.
  • Health and personal care stores' sales increased 0.5% seasonally-adjusted month-to-month and 5.9% unadjusted year-over-year.
  • Nonstore retailers' sales increased 0.4% seasonally-adjusted month-to-month and 8.1% unadjusted year-over-year.
  • Sporting goods, hobby, book and music stores' sales increased 1.6% seasonally-adjusted month-to-month and 5.4% unadjusted year-over-year.

 

 

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