The numbers provided by NRF are based on data from the US Census Bureau and exclude automobile dealers, gasoline stations and restaurants.
“The pullback in September compared with August is possibly a reaction to increased fears over US-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 labour 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 early Labor Day may have moved up some spending into the last days of August."
In September, clothing and clothing accessory store sales were down 0.7 per cent year-over-year but up 1.3 per cent month-over-month seasonally adjusted.
The National Retail Federation is the world’s largest retail trade association.
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