Retail sales in the US increased 0.7% in September 2023 from the previous month and grew 3.8% year-over-year (YoY), according to data from the National Retail Federation (NRF).
During the month, retail sales, excluding automobile dealers, gasoline stations and restaurants, rose 0.5% from August and were up 2.2% unadjusted YoY.
Based on data from the US Census Bureau, the figures revealed that sales for online and other non-store increased by 1.1% seasonally adjusted from the previous month and up 6.2% unadjusted YoY.
Sales for general merchandise stores also increased by 0.4% from August and by 3% from the same period in 2022.
The data also revealed that grocery and beverage store sales grew 0.4% seasonally adjusted from August and up 2.1% unadjusted YoY.
During the month, clothing and clothing accessory store sales declined 0.8% seasonally adjusted from August but grew 0.8% unadjusted YoY.
Sales for sporting goods, furniture and home furnishings stores remained unchanged, seasonally adjusted from August.
NRF president and CEO Matthew Shay said: “September retail sales show that consumers have retained the ability and willingness to spend despite accumulating economic headwinds from higher interest rates and slowing growth.
“As we gear up for the holiday season, we expect moderate growth to continue as consumers focus on value and household priorities. Retailers have been hard at work getting holiday inventories in place to provide consumers with great products, competitive prices and convenience at every opportunity.”
