
This was another economic release delayed by the government shutdown, and economists surveyed by Bloomberg had expected no month-over-month change in U.S. retail sales. Excluding auto sales, the consensus estimate called for a 0.4% increase.
These figures represent consumers’ anticipation of the dampening effect of the government shutdown, and they also correspond with consumer confidence figures released by the Conference Board. Consumer confidence fell to 79.7 in September from 81.8 in August.
September retail sales were also 3.2% higher than in September 2012. Total sales for the three months that ended in September 2013 were up 4.5% year-over-year.
Sales at electronics stores increased 0.7%, receiving little boost from the release of the latest models of the Apple Inc. (NASDAQ: AAPL) iPhone. Sales at bars and restaurants saw a 0.9% gain, as did sales at grocery and liquor stores.
According to the Census Bureau report, motor vehicle and parts sales declined 2.2%, and sales of apparel and accessories fell 0.5% from August. Gasoline-store sales were flat.
Retail sales are seen as the main engine of economic growth as they account for about a third of consumer spending. Large retailers and shippers do expect increased demand for the fast-approaching holiday season.