Consumer Spending Surged in September, According to NRF

For Immediate Release
Stephen E. Schatz  National Retail Federation October 15, 2012

WASHINGTON, October 15, 2012 – Propelled by solid sales in clothing and electronics stores, growth in retail sales in September offered a promising outlook for the critical holiday months ahead.  According to the National Retail Federation (NRF), September retail sales (excluding automobiles, gas stations and restaurants) increased 0.4 percent seasonally adjusted from August, and 2.1 percent unadjusted year-over-year.

“In spite of the uncertainty and unease surrounding our nation’s high unemployment and long-term fiscal challenges, consumers continue to spend and shop,” NRF President and CEO Matthew Shay said. “Robust back-to-school spending combined with a series of new, technology-led product launches certainly helped retailers in September. The American consumer is holding their own in this economic environment but the question remains, for how long?”

September retail sales, released today by the U.S. Department of Commerce, showed total retail and food services sales (which include non-general merchandise categories such as automobiles, gasoline stations, and restaurants) increased 1.1 percent seasonally adjusted month-to-month and 5.4 percent unadjusted year-over-year.

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