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Retail sales last month significantly increased year-over-year

The National Retail Federation released its calculations

Retail sales

Retail sales last month significantly increased year-over-year. Source: shutterstock.com

Retail sales in October increased 0.4% over September on a seasonally adjusted basis and were up 5.6% year-over-year unadjusted, according to calculations released by the National Retail Federation. The numbers exclude automobiles, gasoline stations and restaurants.

Today’s pickup in retail sales shows a healthy pace of spending and a sign of ongoing consumer strength which is consistent with the state of the U.S. economy
Jack Kleinhenz, NRF Chief Economist

Sales were up 4.3% on a three-month moving average compared with the same period a year ago.

NRF’s numbers are based on data from the U.S. Census Bureau, which said overall October sales – including automobiles, gasoline, and restaurants – were up 0.8% seasonally adjusted from September and 4.6% above October 2017.

The October numbers come as retail continues a long-term pattern of increased sales. Total retail sales have grown year-over-year every month since November 2009, and retail sales as calculated by NRF – excluding automobiles, gasoline stations, and restaurants — have increased year-over-year in all but one month since the beginning of 2010.

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