Retail Sales Edge up in September
WASHINGTON-Sales at U.S. retailers totaled $395.5 billion, up 1.1 percent over August and 7.9 percent ahead of September 2010, according to this morning's retail-sales report from the U.S. Census Bureau.
Sales at stores that sell home merchandise also had a positive September. Furniture and home furnishings stores logged in a 1.1 percent increase over August and were up 3.2 percent year over year. General merchandise stores came in with a 0.7 percent increase over August and a year-over-year gain of 4.5 percent. Department stores (excluding leased departments) enjoyed a pickup of 1.1 percent over August and 1 percent over September of last year.
Matt Shay, president and CEO of the National Retail Federation, said the upbeat September numbers were "just what the economy needs right now. The unexpectedly strong sales increase in September may work to dampen fears of a double-dip recession and could indicate an economic and employment rebound."