US Retail Sales Disappoint in September

US retail and food services sales dropped 0.3 percent in September from August, following a 0.6 percent increase in the previous period. It is the first drop in eight months, as consumers spend less in gasoline stations and motor vehicle stores.

Retail sales in clothing stores recorded the highest fall in August (-1.2 percent), followed by building material and garden equipment dealers (-1.1 percent) and gasoline stations (-0.8 percent). Retail sales in motor vehicles stores dropped 0.8 percent, following a 1.9 percent rise in August. Sales in furniture stores also contracted 0.8 percent. 

In contrast, sales in electronics and appliance stores rose 3.4 percent and those in food and beverages dealers were flat in September. 

Core sales, which strip out automobiles, gasoline, building materials and food services fell 0.2 percent in September. Retail sales excluding automobiles decreased 0.2 percent.

Year-on-year retail sales rose 4.3 percent. Total sales for the July through September 2014 period were up 4.5 percent from the same period a year ago.

US Retail Sales Disappoint in September

US Commerce Department | Joana Taborda |
10/15/2014 1:45:58 PM