Seasonal clothing sales rise in September despite wider slow down

Retail sales for September dropped marginally on a seasonal basis as consumers halted purchases following the back-to-school period. According to figures issued by the CNBC/NRF Retail Monitor, retail sales in the US declined 0.66 percent seasonally adjusted month-over-month, however rose 5.42 percent unadjusted year-over-year.

Core retail sales, excluding restaurants, dropped 0.49 percent on a monthly basis, but were up 5.72 percent YoY. Total sales for the first nine months rose 5.12 percent YoY, while core sales were up 5.32 percent.

In the way of categories, September sales were up in all but one on a yearly basis, with clothing stores among the sectors leading. For clothing and accessories, store sales dropped 1.06 percent MoM, but were up 7.35 percent YoY unadjusted.

In a statement, president and CEO of the National Retail Federation, Matthew Shay, said: “Retail sales dipped in September as consumers hit the pause button after two solid months of back-to-school spending.

“Amid continued economic uncertainty, consumers opted to preserve spending power in preparation for the important holiday season. While month-over-month spending data has fluctuated as consumers have reacted to changing circumstances, year-over-year gains show robust growth and signal momentum as we head into the holidays.”