Story perspectives

September Retail Sales Slow, Yet Holiday Spending Strong

10/11/2025

Summary

Story summary

Retail sales in September slowed by 0.66% month over month and grew by 5.42% year over year, according to CNBC/NRF Retail Monitor.
Core retail sales, excluding restaurants and auto dealers, fell 0.49% month over month but rose 5.72% year over year, with growth remaining strong across most sectors.
Matthew Shay, president of the National Retail Federation, said consumer spending power remains despite inflation as shoppers prepare for the holiday season.

History

Historical Context

The Great Recession, which began in December 2007 and lasted until June 2009, was triggered by the collapse of the U.S. housing bubble and subsequent financial crisis. In 2008, retail sales fell sharply, with a 9.8% decline reported. Today, retail sales show a year-over-year growth of 5.42%, indicating a recovery in consumer spending power as the economy rebounds from the recession's impact.

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Story summary

Retail sales in September slowed by 0.66% month over month and grew by 5.42% year over year, according to CNBC/NRF Retail Monitor.
Core retail sales, excluding restaurants and auto dealers, fell 0.49% month over month but rose 5.72% year over year, with growth remaining strong across most sectors.
Matthew Shay, president of the National Retail Federation, said consumer spending power remains despite inflation as shoppers prepare for the holiday season.

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