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There was an increase of 6.3% in retail sales in US, and it will continue to grow in the years to come, as per industry experts.
According to NRF (National Retail Federation), sales in retail industry for the month of Sep (2006) showed a strong rise of 6.3%, unadjusted in 2005, and increased 0.7%, adjusted seasonally from Aug (2006).
As per the data, of retail sales for the month of Sept, released by the Commerce Department of US, total retail sales slid 0.4% recurrently adjusted from Aug and rose 5.1% unadjusted annually.
For Sep, sales went up 1.1% and 3% at departmental stores & specialty clothing stores, respectively, representing the maximum growth in this category.
Gains in the sales for last month (September 2006) were mainly led by clothes & clothes accessories stores, representing a 3% rise in the sales adjusted from August and an impressive 11.9 % over the last year. Book, Sporting goods, & music stores also showed a strong growth of 1.1% from Aug 2006 and 9.1% over the year 2005.
Additionally, strong annual gains were observed at furniture & home furnishing stores (4.8 %), electronics & appliances stores (4.4 %) and general commodities stores (6.5 %).
Food & beverage stores, representing a growth of 4.7% unadjusted over the year 2005, were the sole retail industry sales category that saw a dip in per month spending. Those sales dropped by 0.3% adjusted from Aug.
As per NRF, retail industry sales are likely to increase 6.5 % this year over 2005. Holiday sales, defined as retail industry sales between Nov and Dec, are likely to increase 5 % to US $457.4 Billion. Related Market Research Reports: Booming Men Apparel Market in India Cosmetics and Personal Care Market in Brazil Cosmetics and Toiletries Market in China
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