Strong November raises retailers’ hopes for holidays
December 14, 2017 | Marianne Wilson | Chain Store Age
Retail sales jumped in November as U.S. shoppers ramped up their spending as the crucial holiday season began.
Retail sales in November increased 0.9% over October on a seasonally adjusted basis and were up 6% year-over-year, according to the National Retail Federation. Online and other non-store sales increased 10.5% year-over-year. (The NRF numbers exclude automobiles, gasoline stations and restaurants.)
“This has been an impressive start to the holiday season, perhaps the best in the last few years,” NRF chief economist Jack Kleinhenz said. “The combination of job and wage gains, modest inflation and a heathy balance sheet along with elevated consumer confidence has led to solid holiday spending by American households.”
