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Article Date: January 2018
Word Count: 268

Holiday Sales Top Expectations; Strongest Since Recession


Retail sales for Nov. and Dec. increased 5.5% from 2016 to $691.9 billion excluding restaurants, automobile dealers and gasoline stations, according to the NRF, led by e-commerce and other non-store sales that jumped 11.5% to $138.4 billion. A combination of low unemployment, increasing wages and a rising stock market drove stronger consumer confidence and willingness to spend. The results, derived from U.S. Census Bureau reports, exceeded the NRF’s earlier forecast for growth of between 3.6% and 4.0%, and was the strongest year-over-year gain since 2010 when Holiday sales rebounded 5.2% at the end of the recession.

 

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