Solid consumer spending in the month of
December helped retailers finish the year with a healthy holiday shopping
season, however economic uncertainties sent a cautious consumer to the stores.
According to the National Retail Federation, the world’s largest retail trade
association, December retail sales (excluding automobiles, gas stations and
restaurants) increased 0.8 percent seasonally adjusted from November and
increased 2.1 percent unadjusted year-over-year.
Total holiday retail sales increased 3.0
percent, below NRF’s projected forecast of 4.1, to $579.8 billion.
Additionally, non-store holiday sales grew 11.1 percent. Shop.org in October
forecasted a 12.0 percent growth in online sales in the months of November and
December.
