A customer walks at the electric products zone of a supermarket in San Mateo, California, the United States, Oct. 17, 2023. U.S. retail sales rose 0.7 percent in September from the previous month, according to data released by the U.S. Commerce Department on Tuesday. (Photo by Li Jianguo/Xinhua)
WASHINGTON, Oct. 17 (Xinhua) -- U.S. retail sales rose 0.7 percent in September from the previous month, according to data released by the U.S. Commerce Department on Tuesday.
Advance estimates of U.S. retail and food services sales for September, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were 704.9 billion U.S. dollars, up 3.8 percent year over year.
Total sales for July to September were up 3.1 percent from the same period a year ago. The July-August sales increase was revised from 0.6 percent to 0.8 percent.
Retail trade sales were up 0.7 percent from August 2023, and up 3.0 percent from one year ago. Nonstore retailers were up 8.4 percent from last year, while food services and drinking places were up 9.2 percent from September 2022.
The National Retail Federation (NRF) noted in a statement that retail sales continued to grow in September even as consumers faced continuing economic pressures.
"September retail sales show that consumers have retained the ability and willingness to spend despite accumulating economic headwinds from higher interest rates and slowing growth," NRF President and CEO Matthew Shay said.
"As we gear up for the holiday season, we expect moderate growth to continue as consumers focus on value and household priorities," said Shay.
Tim Quinlan and Shannon Seery, economists at Wells Fargo Securities, wrote in an analysis that continued consumer resilience could keep pressure on inflation.
"Another rate hike before the end of the year is a possibility, but our base case remains that the last rate hike of the tightening cycle occurred in July," they argued. ■
(231018) -- SAN MATEO, Oct. 18, 2023 (Xinhua) -- A customer selects goods at a supermarket in San Mateo, California, the United States, Oct. 17, 2023. U.S. retail sales rose 0.7 percent in September from the previous month, according to data released by the U.S. Commerce Department on Tuesday. (Photo by Li Jianguo/Xinhua)
A customer selects goods at a supermarket in San Mateo, California, the United States, Oct. 17, 2023. U.S. retail sales rose 0.7 percent in September from the previous month, according to data released by the U.S. Commerce Department on Tuesday. (Photo by Li Jianguo/Xinhua)
A customer selects goods at a supermarket in San Mateo, California, the United States, Oct. 17, 2023. U.S. retail sales rose 0.7 percent in September from the previous month, according to data released by the U.S. Commerce Department on Tuesday. (Photo by Li Jianguo/Xinhua)
A customer walks at the electric products zone of a supermarket in San Mateo, California, the United States, Oct. 17, 2023. U.S. retail sales rose 0.7 percent in September from the previous month, according to data released by the U.S. Commerce Department on Tuesday. (Photo by Li Jianguo/Xinhua)
