Consumers continued to give the U.S. economy a modest boost in September, but there were signs that shoppers slowed their spending toward the end of summer.
Retail sales climbed 0.1 percent last month, the Commerce Department said Wednesday. But stripping out the volatile motor vehicle and parts sector, retail sales actually fell 0.3 percent. August retail sales were revised down to virtually unchanged.
However, shoppers have shown an overall willingness to spend for the past half year, and retail experts said that bodes well for the prime shopping months at the end of the year. The National Retail Federation this month predicted that holiday sales would increase 3.7 percent over 2014, with retailers hauling in nearly 20 percent of their annual revenue during that period.
“With several months of solid retail sales behind us, we’re heading into the all-important holiday season fully expecting to see healthy growth,” Matthew Shay, the federation’s chief executive, said.