twice connect
careers

Sept. CE/Majap Retail Sales Flat: Feds

10/14/2011 10:34:11 AM Eastern
Washington - September sales were flat for CE and appliance dealers following a 1 percent increase in August, U.S. Commerce Department figures show.

The CE and appliance channel pulled in $8.4 billion last month, according to Commerce Department estimates, which was flat compared with last year and up just 0.2 percent from the prior month.

In contrast, total retail revenue excluding food and automotive was up 8.1 percent year over year in September, boosted by back-to-school apparel sales.

The estimates are based on early reports obtained from a small sample of retailers, the Commerce Department said, and were adjusted for seasonal variations and holiday and trading day differences, but not for price changes.

Flat majap and CE sales notwithstanding, the National Retail Federation (NRF), a trade association, said the solid increase in total September sales was "just what the economy needs right now."

"Despite stagnant unemployment figures and a shaky stock market, American consumers are holding their own," said NRF chief economist Jack Kleinhenz. "While September's sales figures were strong, retailers' fourth-quarter growth will continue to depend heavily on the labor market and consumer confidence, both of which continue to experience weakness."

Want to read more stories like this?
Get our Free Newsletter Here!

Curated By Logo