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The Paramus Post - Greater Paramus News and Lifestyle Webzine
Sunday, September 25 2016 @ 03:09 AM EDT

Retail Sales Unchanged in May

The National Retail Federation calculated May retail sales, which exclude automobiles, gas stations and restaurants, unchanged seasonally adjusted month-to-month yet increased 3.0 percent unadjusted year-over-year.

On the surface, May retail sales were disappointing and weaker than expected; however April's upward revisions still indicate positive growth for the remainder of the year.

Even though American consumers continue to be selective and price-sensitive, May sales were strong in many retail categories and sectors including building supply stores, furniture stores and nonstore retailers.

The economic fundamentals – consumer confidence, employment and income – remain strong.

Additional findings from NRF’s retail sales analysis include:

  • Building material & garden equipment & supplies dealers:         

    • +1.1% month-to-month

    • +3.5% year-over-year

  • Clothing & clothing accessories stores:

    • -0.6% month-to-month

    • +3.2 year-over-year

  • Electronics & appliance stores:

    • -0.3% month-to-month

    • +1.3% year-over-year

  • Furniture & home furnishing stores:

    • +0.5 month-to-month

    • +6.7 year-over-year

  • General merchandise stores:

    • -0.6% month-to-month

    •  +1.7% year-over-year

  • Health & personal care stores:

    • -0.1% month-to-month

    • +4.2% year-over-year

  • Nonstore retailers:

    • +0.6% month-to-month

    • +5.1% year-over-year

  • Sporting goods, hobby, book & music stores:

    • -0.1% month-to-month

    • -1.0% year-over-year

      May retail sales, released today by the U.S. Census Bureau, which include categories such as automobiles, gasoline stations and restaurants, increased 0.3 percent seasonally adjusted month-to-month ($437.6 billion) and 4.3 percent adjusted year-over-year.

by Mel Fabrikant

Mel is a longtime Paramus resident and has belonged to many Paramus organizations. He is responsible for bringing the Scholarship Show to town and seeing to it that the initial presentation went over well. His five offspring were brought up through the Paramus school system. In addition, he is a longtime Paramus Rotary member.

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