Retail Sales Rose 1.9% in September

Cornelia Mascio
Ottobre 16, 2020

Retail sales in September rose 1.3% from August and were up 12% year-over-year, according to the National Retail Federation. These gains represented a more than tripling of the 0.6% sequential increase, from July to August and almost doubling August's 2.8% annual gain, with both monthly annual and sequential retail sales up every month since June, which was preceded by major declines related to the COVID-19 pandemic.

Retail sales have been recovering since plunging in the spring as stores and malls were ordered closed to help prevent the spread of the coronavirus.

Economists had penciled-in an increase of 0.7%.

The September sales increase is an improvement over 0.6% growth in August, the report noted.

Sales at clothing stores rose 11%, accounting for much of September's overall growth. The biggest monthly gain came at clothing stores, although their sales remained below last year, while the largest year-over-year increase was seen online.

At auto dealerships and auto part shops, sales were up 3.6%. "September retail sales reflect the support of government measures and elevated savings that is being spent now that consumers are shopping again".

Consumer spending makes up two-thirds of all USA economic activity and is watched closely to gauge the country's economic health. All of those types of businesses have been badly hurt by the pandemic.

Americans continued to splash out at pace last month, despite the slowdown in hiring and a rebound in Covid-19 infections in many states.

Joyce Alcantara, who runs the social media accounts of a San Francisco museum, says she will likely buy fewer gifts this year, cutting out co-workers, friends or family that she doesn't see in person.

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