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Thursday, February 2, 2023

Fashion sales in the United States moderate growth with a 0.7% increase in November

Fashion sales have decreased in the United States. In November, sector sales registered a barely 0.7% increase over the previous months, according to data published today by the US Census Bureau.

The data is far from the previous increase, although in line with the growth of fashion during the year, which has been reducing the growth rate month by month. In January, the turnover of fashion stores grew by 19.3%, and in February by 28%.

In March, the growth decelerated with an increase of 8.9% and maintained a similar pace in April, when fashion sales registered an increase of 8.7%. In May, the sector slowed down again, with an increase of 4.8% and in June it grew by barely 0.8%.

The sector gained momentum in the summer and increased its retail sales by 1.9% in July before accelerating again in August with a year-over-year jump of 5%, compared to the same month in 2021. September’s 3.1% figure once again reflects a recession on the brink of a golden quarter for fashion and a possible economic downturn.

In the first eleven months of the year, fashion sales in the United States accumulated an increase of 6.5% to €271,955 million, while sales in the region declined by 0.2% compared to October.

The biggest increase was registered by gas stations with an increase of 16.2%. This was followed by restaurants with a sales increase of 14.1%. Food stores, for their part, increased their revenue by 8.1% in the eleventh month of the year.

For their part, automotive stores closed November with a 1.3% increase in sales, while furniture and electronics stores fell, with declines of 3.2% and 4.4%, respectively.

World Nation News Desk
World Nation News Deskhttps://worldnationnews.com/
World Nation News is a digital news portal website. Which provides important and latest breaking news updates to our audience in an effective and efficient ways, like world’s top stories, entertainment, sports, technology and much more news.
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