Four Straight Months of U.S. Retail Sales Growth

(IDEX Online News) - U.S. October retail industry sales (excluding automobiles, gas stations and restaurants) increased 0.3 percent seasonally adjusted over September and 2.6 percent unadjusted over last year, giving American retailers reason for optimism just ahead of the holiday season.

The positive October results are the fourth straight month of retail sales gains recorded by the U.S. market.

“This continued momentum is good news for the industry, especially with Black Friday and Cyber Monday quickly approaching,” said NRF President and CEO Matthew Shay. “While there is no question that consumer demand has improved, there are still questions about consumer confidence tied to high unemployment. We need to see improvement in key economic indicators to sustain any long-term growth.”

Total October retail sales (including non-general merchandise categories such as autos, gasoline stations and restaurants) increased 1.2 percent seasonally adjusted over September and 5.4 percent unadjusted year-over-year.