A strong rebound in apparel led a continuing recovery from the pandemic as retail sales accelerated their rate of growth in September and marked the fourth straight month of year-over-year gains, the National Retail Federation said.
Retail sales rose in June, the National Retail Federation reported citing United States Census Bureau numbers, a gain that represented both a monthly increase and the first year-over-year gain since the beginning of the year as more retailers closed by the coronavirus pandemic reopened.
Retail sales in March took a hit from the COVID-19 outbreak but, among the various channels that make up the sector, results were mixed.
The National Retail Federation has reported that retail sales, excluding automobile dealers, gasoline stations and restaurants, rose 0.5% in May seasonally adjusted from April and 3.2% unadjusted year-over-year.
China is the world’s largest country in terms of population, and this year could become the planet’s top retail market, displacing the United States.
The National Retail Federation has updated its retail sales forecast for 2018, declaring that tax reform and other economic inputs would boost revenues more than previously predicted but warning that tariffs threaten to dampen consumer confidence.
Retail sales in September increased 0.5% over August on a seasonally adjusted basis and were up 3.2% year-over-year unadjusted, according to figures from the National Retail Federation. The sales figures exclude automobiles, gasoline stations and restaurants.
According to the United States Census Bureau, advance estimates of U.S. retail and food services sales for May 2017, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $473.81 billion, a decrease of 0.3% from April but up 3.8% from May 2016.
According to the United States Census Bureau, February retail trade sales gained 0.1% versus January and 5.9% versus February 2016.