Clothing store sales were unchanged in October 2023. Credit: Nguyen Dang Hoang Nhu on Unsplash.

Retail sales in the US decreased 0.1% in October 2023 from the previous month but grew 2.5% year-over-year (YoY), according to data from the National Retail Federation (NRF).

During the month, retail sales excluding automobile dealers, gasoline stations and restaurants, rose by 3.1% unadjusted YoY on a three-month moving average as of October. It increased by 3.7% for the first ten months of the year.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

The figures, which are based on data from the US Census Bureau, revealed that sales for furniture and home furnishing stores dropped 2.0% in October and general merchandise store sales declined 0.2%.

Clothing store sales were unchanged in October while sales for electronics and appliance outlets grew 0.6%.

During the month, sales for food and beverage stores as well as food services and drinking places increased by 0.6% and 0.3%, respectively.

See Also:

Sales for health and personal care stores increased by 1.1%, but sales of sporting goods, hobby, musical instruments and bookstores, as well as miscellaneous stores, dropped by 0.8% and 1.7%, respectively in October 2023.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Non-store retailers registered sales growth of 0.2% over the month.

National Retail Federation chief economist Jack Kleinhenz said: “Fourth-quarter consumer spending stepped off on a more moderate pace, as expected. The staying power of the American consumer has been the story of 2023, but financial conditions have tightened appreciably in recent months, curbing the purchasing power fuelled by job and wage gains. Nonetheless, continued consumer resilience is still expected for the holiday season.”