Chain Store Age
U.S. consumer spending showed momentum in November as shoppers began holiday shopping in earnest.
Retail sales in November rose 5% unadjusted year-over-year and 0.7% seasonally adjusted from October, reported the National Retail Federation. (The NRF numbers exclude automobiles, gasoline stations and restaurants.)
The NRF said the results, which reflect the first half of the holiday season, show that spending is on track to easily meet its forecast of a 4.3% to 4.8% increase in sales during November and December for a total between $717.45 billion and $720.89 billion. . . . more