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Saturday, February 4, 2023

US fashion sales pick up in October

Fashion in America keeps pace. In October, the region’s retail sales in the North American country registered a growth of 3.1%, the same as in September, according to preliminary data published today by the US Census Bureau.

In the first ten months of the year, the sector’s sales in the United States increased by 7.3%, to $242,528 million, while growth was flat in a month-on-month basis.

Retail trade across the country ended the tenth month of the year with a growth of 8.3%. The sector that increased its sales the most in October was gas stations, with an increase of 17.8%. It was followed by restaurants, horticulture and food stores with growth of 14.1%, 9.2% and 7.6% respectively.

For their part, sales at vehicle stores registered a 5.2% increase in the tenth month of the year, while sales of household goods and sporting products increased by 0.4% and 2.5%, respectively.

Fashion sales in the United States have slowed month by month since the beginning of the year., In January, the sector’s turnover jumped 19.3% year-on-year and increased by 28% in February.

In March, growth moderated with an increase of 8.9% and the momentum was maintained in April, when fashion sales registered an increase of 8.7%. In May, business growth in the region slowed down again and grew by 4.1%, and fell another notch in June, growing by only 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.

World Nation News Desk
World Nation News Deskhttps://worldnationnews.com/
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