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October Retail Sales Grew 4.2 Percent Over Last Year
Retail sales in October increased 0.2 percent seasonally adjusted over September and were up 4.2 percent unadjusted year-over-year, the National Retail Federation said.
“Despite the gradual slowdown in the U.S. economy, consumers are in a good place and October’s retail sales are a step forward into the all-important holiday season,” NRF Chief Economist Jack Kleinhenz said. “Uncertainty around trade policy has impacted consumer sentiment recently but ongoing job growth, low interest rates, low inflation and the stock market hitting record highs provide support for consumer spending.”
October’s results make up for most of the 0.3 percent month-over-month decline seen in September and build on September’s year-over-year increase of...
Social Media Driving Impressive Halloween Spending
U.S. consumers are using social media to find Halloween inspiration and it is driving near-record spending for the holiday in 2019.
According to the National Retail Federation’s annual survey, shoppers will spend an average of $86.27 on Halloween, just slightly below last year’s record of $86.79. In total that works out to $8.8 billion. That total marks the third-highest mark in the survey’s 15-year industry.
“Spending hasn’t changed much over the past few years, but we are seeing a noticeable increase in...
The Consumer Confidence Index Edged Down in October
The Conference Board Consumer Confidence Index decreased marginally in October, following a decline in September. The Index now stands at 125.9 (1985=100), down from 126.3 in September. The Present Situation Index – based on consumers’ assessment of current business and labor market conditions – increased from 170.6 to 172.3. The Expectations Index – based on consumers’ short-term outlook for income, business and labor market conditions – declined from 96.8 last month to 94.9 this month.
“Consumer confidence was relatively flat in October, following a decrease in September,” said Lynn Franco, Senior Director of Economic Indicators at The Conference Board. “The Present Situation Index improved, but Expectations weakened slightly as consumers expressed some concerns about business conditions and...
Holiday Shoppers Plan to Spend 4 Percent More this Year
Consumers say they will spend an average of $1,047.83 this holiday season, up 4 percent from the $1,007.24 they said they would spend last year, according to the annual survey released today by the National Retail Federation and Prosper Insights & Analytics. Shoppers between the ages of 35 and 44 plan to spend the most at $1,158.63.
“Consumers are in good financial shape and willing to spend a little more on gifts for the special people in their lives this holiday season,” NRF President and CEO Matthew Shay said. “Retailers are fully prepared to meet the needs of holiday shoppers looking for that perfect mix of sales, quality and selection.”
Shay noted that retailers are expected to import near-record volumes of merchandise ahead of the tariffs that are scheduled to take effect on...
September Sales Grew 4.5 Percent Over Last Year
According to the National Retail Federation, retail sales in September were down 0.1 percent seasonally adjusted from August, but up 4.5 percent unadjusted year-over-year.
“The pullback in September compared with August is possibly a reaction to increased fears over U.S.-China tensions,” NRF Chief Economist Jack Kleinhenz said. “While uncertainty around trade policy and other issues has dampened consumer sentiment recently, consumers still have a lot going for them as evidenced by longer-term trends and factors like the tight labor market. September is a tricky month to measure because of seasonal factors like the end of summer and back-to-school spending, and this year’s...
July Retail Sales Show Strong Gains
Retail sales were up 0.9 percent in July seasonally adjusted from June and up 5.6 percent unadjusted year-over-year, the National Retail Federation said today. The numbers exclude automobile dealers, gasoline stations and restaurants.
“July’s strong results are consistent with a confident consumer,” NRF Chief Economist Jack Kleinhenz said. “Households are in good shape with spending and that should continue as long as the labor market remains healthy. But it’s important to remember that today’s data is looking backward at what was happening a month ago. The impact of volatile financial markets and increased trade tensions in recent weeks may put a wind of caution in consumer spending as...
May’s Retail Sales Show Consumer Resilience and Confidence in the Economy
Retail sales rose 0.5 percent in May seasonally adjusted from April and up 3.2 percent unadjusted year-over-year, the National Retail Federation said today. The numbers exclude automobile dealers, gasoline stations and restaurants.
“Today’s retail numbers, and upward revisions to prior months, reinforce the ongoing strength of the consumer and are consistent with a pick up in the pace of the economy in the coming months. The strong job market, recent income gains and elevated confidence translates into ongoing support for spending. Households, in the aggregate, are in solid financial condition but an escalation in trade tariffs will undoubtedly create a considerable downdraft to confidence and spending, or lead to...
Retail Sales Declined at Fastest Pace Since 2009 in December
An important measure of consumer spending posted its strongest drop since 2009 in December, a worrying sign for economic growth as shoppers reined in spending at the close of the year.
Retail sales, a measure of purchases at stores, restaurants and online, declined a seasonally adjusted 1.2% in December from a month earlier to $505.8 billion, the Commerce Department said Thursday. Economists surveyed by the Wall Street Journal had expected sales to increase 0.1% in December.
The final month of the holiday season is key for the retail sector, especially for department stores, clothing outlets and online sellers.
The Commerce Department report showed every major retail category aside from...
AAA: One in Three Americans Will Travel this Holiday Season, the Most on Record
AAA forecasts that more than one-third of Americans will travel this holiday season. The record-breaking 112.5 million travelers taking to the nation’s runways, roads and rails for the year-end holidays represents a 4.4 percent increase over last year and the most since AAA has been tracking holiday travel. For the more than 102 million people who will pack up their cars for a holiday road trip, INRIX, a global mobility analytics company, predicts travel times in the most congested cities in the U.S. could be as much as four times longer than a normal trip.
“’Tis the season for holiday travel, and more Americans than ever will journey to spend time with friends and family or choose to take a vacation,” said Bryan Shilling, managing director, AAA Travel products and services. “Strong economic growth fueled by robust consumer spending continues to drive strong demand for seasonal travel. With a record-breaking one-third of the country choosing to travel this holiday, roadways and airports are sure to be busy...
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