Furniture stores trail broad retail sector with 1.7% September sales increase

USA retail sales soared in September led by a surge in those for motor vehicles and parts.

U.S. consumer spending increased by 0.7% year over year in September and rose by 1.6% year over year, the largest increase in two and a half years, according to Friday morning's report from the U.S. Census Bureau on estimated retail sales. Gasoline Stations were up 11.4% (±1.4%) from September2016, while Building Materials and Garden Equipment and Supplies Dealers were up 10.7% (±2.1%) from a year ago. Non-store (internet) continued to eat the lunch of certain of those losing categories (especially electronics), with sales up 0.5 percent for the month and 9.2 percent for the year. Ex-auto sales had been expected to rise by 0.3 percent. Without auto sales, the month-over-month increase in overall sales was 1 percent.

Total sales for the July 2017 through September 2017 period were up 3.9% (±0.5%) from the same period a year ago.

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The Commerce Department said retail sales surged up by 1.6 percent in September after edging down by a revised 0.1 percent in August. Food services and bars saw a sales increase of 0.8% month over month and 2.7% year over year.

From July through September, furniture and home furnishings store sales were up 3.8% from the same three months past year and increased 0.2% from April-through-June period, the report said. Sporting goods, hobby, book and music stores had a month-over-month sales decline of 0.2% and a year-over-year drop of 5.5%.

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