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September retail sales better than expected

October 14th, 2007 · No Comments

Though September sales gains were moderate, they were better than expected, giving retailers a welcome surprise as they head into the ever-important holiday season. According to the National Retail Federation, retail industry sales (which exclude automobiles, gas stations, and restaurants) last month rose 2.2 percent unadjusted over last year and 0.2 percent seasonally adjusted from August.

September retail sales compiled by the U.S. Commerce Department show total retail sales (which include non-general merchandise categories such as autos, gasoline stations and restaurants) increased 0.6 percent seasonally adjusted from last month and 2.9 percent unadjusted year-over-year.

“Consumer spending continues to be restrained in most areas,” said NRF Chief Economist Rosalind Wells. “Although sales across the board show modest increases, consumers are certainly spending more cautiously.”

Tags: Businesses

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