Sporting Goods, Hobby, Book and Music Store Sales Up in September

 

By comparison, adjusted sales by department and other general merchandise stores declined -0.9 percent and -6.0 percent respectively. At clothing and clothing accessories stores, adjusted sales declined 0.5 percent from August and were up 2.7 percent from September 2012. Adjusted sales by online, catalog and other nonstore retailers, declined 1.2 percent from August and were up 6.2 percent from September 2012.

 

Advance estimates provide the government’s first estimate of monthly U.S. retail sales. They are based on a survey of just 5,000 retail and food services firms and will be revised twice in coming months as more data becomes available. So-called “adjusted estimates” seek to exclude the impact of changes in the selling calendar from one month, quarter or year to the next, but do not adjust for changes in prices. On an unadjusted basis, Census estimates September nonstore retail sales increased 12 percent from a year ago and are now running 10.8 percent ahead of the first nine months of 2012. 

Still, the National Retail Federation said the data indicate broad sales gains in most retail sectors. The trade association estimates that after excluding sales of autos, gas stations and restaurants, retail sales increased a healthy 0.6 percent seasonally adjusted from last month, and 3.8 percent unadjusted year-over-year.

 

“Retailers witnessed a solid sales performance in September, with marked gains in all sectors, excluding clothing,” NRF President and CEO Matthew Shay said. “The American consumer remains ever-cautious and value-driven but continues to spend. Only time will tell if and when the government shutdown and debt ceiling debacle will impact retailers and consumers this fall and winter. The true economic impact of Washington’s inability to enact policies that enhance and sustain economic growth and certainty remains to be seen.”

 

The U.S. Census data showed that total retail and food services sales, which include non-general merchandise categories such as automobiles, gasoline stations, and restaurants, decreased 0.1 percent seasonally adjusted month-to-month yet increased 3.2 percent adjusted year-over-year.

 

“Falling gas prices combined with rising housing and stock prices continue to support consumer spending, and the broader economy,” NRF Chief Economist Jack Kleinhenz said. “While far from robust, consumers are shopping, but they are spending both discriminately and moderately. Volatility still persists in various retail sectors but spending has somewhat stabilized heading into the all-important holiday shopping season.”

 

Earlier this month, NRF released its holiday forecast, which indicated a 3.9 percent retail sales increase over last year, reaching $602.1 billion.