Data from the CNBC/NRF Retail Monitor powered by Affinity Solutions showed total retail sales, excluding automobile dealers and petrol stations, increased 0.6% over September on a seasonally adjusted basis. On an unadjusted basis, sales rose 5% compared with October last year.
In September, total sales had declined by 0.66% over the month but increased by 5.42% from a year earlier.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The report indicated that clothing and accessories retailers saw a 1.42% rise in seasonally adjusted sales compared to September, and a 7.89% gain over the year on an unadjusted basis.
NRF president and CEO Matthew Shay said: “Retail sales grew in October as consumers geared up for the holiday season. Recent economic data has been mixed, yet consumer spending remains solid — supported by wage growth outpacing inflation, historically low unemployment, and wealth effects from strong stock market valuations. These factors point to continued momentum heading into the holidays as consumers focus on family, friends and finding value to make their budgets go further.”
During the month of October, core retail sales, which omit restaurants as well as automobile dealers and petrol stations, registered a 0.6% monthly increase and a 4.89% gain compared to the previous year.
In September, core retail sales fell by 0.49% over the month but were up by 5.72% year over year.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataOther major categories showed mixed results for October. Sporting goods, hobby, music, and book shops recorded a 0.09% increase over the month and a 7.19% yearly rise.
General merchandise stores reported a 0.58% monthly increase and a 6.99% annual gain.
However, furniture and home furnishings stores posted a small decline of 0.08% month over month and dropped by 1.7% compared to last year.
For the first ten months of this year, total retail sales grew by 5.11%, while core retail sales rose by 5.28%.
Recently, the NRF projected that US holiday sales in 2025 will surge between 3.7% and 4.2% compared with those in 2024 to reach just over $1tn.
