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(New York=Yonhap Infomax) Jeong Ho Jin – US retail sales posted a modest increase in September, falling short of market expectations and signaling a potential cooling in consumer sentiment compared to the previous month.
According to the US Department of Commerce on the 25th (local time), seasonally adjusted retail sales in September reached $733.3 billion, up 0.2% from the previous month. On a year-over-year basis, sales rose 4.3%.
The market consensus compiled by Yonhap Infomax (screen number 8808) had forecast a 0.4% monthly increase, making the actual figure weaker than anticipated.
The monthly growth rate in September slowed compared to August’s 0.6% increase, further indicating a softening in consumer spending. For the three months from July to September, cumulative sales rose 4.5% year-on-year.
Focusing solely on the retail sector, sales edged up 0.1% month-on-month and 3.9% year-on-year.
Non-store retailers, including e-commerce, saw a 6.0% year-on-year increase. Food services and drinking places posted a 6.7% rise over the same period.
Excluding motor vehicles and parts, retail sales climbed 4.1% year-on-year, while sales excluding gasoline stations increased 4.4%.
Gasoline station sales were up 3.1% year-on-year.
By category, compared to the same period last year, sales at health and personal care stores rose 5.6%, apparel and accessories 6.7%, and food services and drinking places 6.7% respectively.
jhjin@yna.co.kr
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