While government statistics released Tuesday show a slight decrease in retail sales in September, the National Retail Federation's (NRF) says that most retail sectors experienced broad sales gains.
According to NRF, 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."
September retail sales statistics, released by the U.S. Census Bureau, 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.
Earlier this month, NRF released its holiday sales forecast, which indicated a 3.9 percent increase in holiday retail sales over last year, reaching an estimated $602.1 billion.