Retail sales rise in holiday runup

Retail sales in September offer a promising outlook for the holiday months ahead. According to the National Retail Federation, retail sales increased 0.4 percent since August, and 2.1 percent since last year.

“In spite of uncertainty and unease surrounding our nation’s high unemployment and long-term fiscal challenges, consumers continue to spend and shop,” said NRF President and CEO Matthew Shay. “Robust back-to-school spending combined with a series of new, technology-led product launches certainly helped retailers in September. The American consumer is holding their own in this economic environment, but the question remains: For how long?”

However, the “looming fiscal cliff” still poses a threat to the momentum in consumer spending, said NRF Chief Economist Jack Kleinhenz.

NRF also found that clothing and accessory sales were up 3.6 percent since last year, while general merchandise stores decreased sales by 1.2 percent. Hobby, book and music stores reported a 3.9 percent rise.

For more, visit www.nrf.com.