Retail sales growth cooled slightly in September- CNBC/National Retail Federation

Retail sales cooled slightly on a monthly basis in September after a solid summer, but year-over-year increases remained solid as retailers charge into the holiday season, according to the latest report from the CNBC/NRF Retail Monitor.

Total retail sales were down 0.7% seasonally adjusted month over month after excluding automobiles and gasoline but up 5.4% unadjusted year over year in September. That marked a softening from the increases of 0.5% month over month and 6.8% year over year in August. Total sales were up 5.1% year over year for the first nine months of the year, and core sales were up 5.3%.

September sales were up in all but one category on a yearly basis, led by digital products, sporting goods stores, and clothing stores, but were down in five out of nine categories on a monthly basis.

"Retail sales dipped in September as consumers hit the pause button after two solid months of back-to-school spending," noted NRF CEO Matthew Shay. "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," he added.

September sales were up in all but one category on a yearly basis, led by digital products, sporting goods stores, and clothing stores, but were down in five out of nine categories on a monthly basis. The sporting goods, hobby, music, and book stores category stood out, with a 0.7% month-over month seasonally adjusted gain and 8.8% year-over-year unadjusted increase.

Total retail sales were up 5.1% year over year for the first nine months of the year, and core sales were up 5.3%.