Wednesday, January 15, 2020

Holiday sales may have been better-than-expected, up nearly 5%, Bank of America economists say

Retail sales were strong in December, and for the holiday shopping period they could be up close to 5%, slightly better than other industry forecasts, according to Bank of America economists.

Using BofA aggregated credit and debit card data, BofA Securities economists said December sales increased 0.3% over the month earlier and 3.2% year-over-year. The economists expect to see a similar 0.3% gain in Census Bureau retail sales, when they are reported Thursday.. . . more