September retail sales jump thanks to weather-related events

Retail sales in September increased 0.5 percent compared to August, and 3.2 percent compared to a year go, due primarily to hurricane event impact.

The sales insight, from the National Retail Federation, noted it was a "good increase" and "strong growth" from a year ago.

"Retail appears to have navigated through some rough weather — literally," NRF Chief Economist Jack Kleinhenz said in a press release. "Hurricane impacts were very clear, with a strong boost for building materials going a long way to offset downturns elsewhere. While the hurricanes played a major role in the data, they did not fundamentally affect the upward path of the economy."

Clothing and accessories stores were up 0.4 percent seasonally adjusted from August and up 1.5 percent unadjusted year-over-year, and general merchandise stores were up 0.3 percent seasonally adjusted over August, and up 4.7 percent unadjusted year-over-year. Yet furniture and home furnishings stores were down 0.4 percent seasonally adjusted from August, but up 1.4 percent unadjusted year-over-year.

 


Topics: Consumer Behavior, Financial News, Retail - General


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