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Retail sales grow in September, as consumer spending increases and prices rise

Tuesday, Oct 19, 2021

September was yet another month of retail growth! US retail sales climbed .8% from August 2021 and 12.2% from last year’s numbers. September generated $625.4 billion in retail sales for the month.

Featured categories include restaurants, bars, clothing stores and home good stores, each of which have seen sales climb due to back-to-school and seasonal shopping trends. 

Consumers remain willing to spend, according to US economists. This urge is predicted to continue in future months. With this, comes an increase in prices overall. Price points are rising at their quickest pace in years, a phenomenon largely attributed to the reopening of the global economy.

“People believe that they have learned to manage the virus,” said Beth Ann Bovino, Chief U.S. Economist at S&P Global. “Many are vaccinated, and they’re tired of staying at home and want to go out and spend.”

Source: US Census Bureau, NY Times
Photo Credit: NY Times

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