U.S. Posts 0.2 Percent Rise in September Retail Sails
The September figure marked the most modest advancement recorded over a four-month period, following August's robust 0.6% climb, and fell considerably short of economist forecasts projecting a 0.4% uptick. The underwhelming results suggest potential softening in consumer spending momentum as the year progresses.
Total retail trade volume reached $733.3 billion during the month, the official government data revealed, reflecting the aggregate scale of American consumer commerce activity.
Category-level analysis showed divergent performance across retail segments. Miscellaneous store retailers posted the strongest gains, surging 2.9%, while gasoline stations followed with a solid 2% increase driven partly by fluctuating fuel prices.
Health & personal care stores registered a 1.1% advance, food services & drinking places climbed 0.7%, and furniture stores edged up 0.6% during September, demonstrating continued consumer willingness to spend on essential goods and dining experiences.
Conversely, several retail categories experienced notable contractions. Sporting goods, hobby, musical instrument, & book stores suffered the steepest decline, plummeting 2.5%. Clothing retailers fell 0.7%, while nonstore retailers—primarily e-commerce platforms—also dropped 0.7%, raising questions about shifting consumer purchasing patterns.
A critical economic metric closely watched by policymakers showed weakness. Retail sales figures utilized in calculating Gross Domestic Product (GDP)—which exclude food services, automobile dealers, construction material stores, and gasoline stations—declined 0.1% in September. This contraction followed August's 0.6% expansion, potentially signaling headwinds for third-quarter economic growth calculations.
Despite monthly volatility, year-over-year comparisons remained encouraging. On an annual basis, retail sales advanced 4.3% in September, indicating sustained consumer spending strength when measured against the previous year's baseline performance levels.
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