Retail sales see no change in September
Total retail sales saw no change in September following an increase of 0.4 percent in August. NAFCU Chief Economist and Vice President of Research Curt Long analyzed the report in a new NAFCU Macro Data Flash report.
“Retail sales were flat in September. The series is not adjusted for inflation, so spending declined in real terms,” said Long. “Sales declines were broad during the month, hitting many sectors.
“However, the areas of the economy that are particularly hampered right now were among the biggest losers: sales at auto dealers fell 0.6 percent and home furnishings fell 0.7 percent,” added Long.
Sectoral performance was mixed in September. General merchandise stores saw the biggest increase with 0.7 percent growth in sales, growth last month was equally offset by declines. Miscellaneous store retailers, however, saw the biggest decline (-2.5 percent).
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