Retail sales stumbled in September on a monthly basis but still gained year over year as consumers took a shopping breather between the back-to-school and holiday seasons, according to the CNBC/NRF Retail Monitor.
Total retail sales, excluding automobiles and gasoline revenues, decreased by 0.66% seasonally adjusted month over month and gained 5.42% unadjusted year over year in September, according to the National Retail Federation, co-sponsor of the Retail Monitor report. In August, total retail sales increased 0.5% month over month and 6.81% year over year.
The Retail Monitor calculation of core retail sales, which excludes restaurants in addition to auto dealers and gasoline stations, slipped 0.49% month over month in September and increased 5.72% year over year. In August, core retail sales increased 0.26% month over month and 6.67% year over year.
Total sales were up 5.12% year over year for the first nine months of 2025 with core sales up 5.32%.
By channel, NRF noted, September results were;
- General merchandise stores were down 0.62% month over month seasonally adjusted and up 5.52% year over year unadjusted.
- Furniture and home furnishings stores were down 1.87% month over month seasonally adjusted and up 0.56% year over year unadjusted.
- Building and garden supply stores were up 0.53% month over month seasonally adjusted and down 1.2% year over year unadjusted.
- Health and personal care stores were up 0.38% month over month seasonally adjusted and 4.65% year over year unadjusted.
- Electronics and appliance stores were down 0.12% month over month seasonally adjusted and up 4.43% year over year unadjusted.
- Grocery and beverage stores were down 0.76% month over month seasonally adjusted and up 4.79% year over year unadjusted.
- Sporting goods, hobby, music and book stores were up 0.74% month over month seasonally adjusted and 8.81% year over year unadjusted.
- Clothing and accessories stores were down 1.06% month over month seasonally adjusted and up 7.35% year over year unadjusted.
- Digital products, including electronic books and games were up 0.52% month over month seasonally adjusted and 21.35% year over year unadjusted.
“Retail sales dipped in September as consumers hit the pause button after two solid months of back-to-school spending,” NRF President and CEO Matthew Shay said. “Amid continued economic uncertainty, consumers opted to preserve spending power in preparation for the important holiday season. While month-over-month spending data has fluctuated as consumers have reacted to changing circumstances, year-over-year gains show robust growth and signal momentum as we head into the holidays.”
Unlike survey-based numbers collected by the Census Bureau, the Retail Monitor uses anonymized credit and debit card purchase data compiled by Affinity Solutions that does not need to be revised monthly or annually.
