acegame888 US holiday sales rose a better-than-expected 4%

acegame888

FILE – Shoppers pass displays of goods in a Costco warehouse Sunday, Feb. 25, 2024, in Sheridan, Colo. (AP Photo/David Zalubowski, File)

NEW YORK — Sales for the 2024 holiday shopping season turned out to be robust and better than expected, as easing inflation on merchandise drove shoppers to buy, according to the nation’s largest retail trade group.

Holiday sales in November and December rose 4% to $994.1 billion compared with the previous year, according to the National Retail Federation, the largest retail trade group in the U.S. For the holiday period in 2023, sales increased 3.9% compared with the previous two-month period. The holiday sales growth was above the group’s expectations for a 2.5% to 3.5% increase for the period.

Article continues after this advertisement

The figure was also higher than the average annual holiday increase of 3.6% from 2010 to 2019 before the pandemic supercharged consumer spending.

FEATURED STORIES BUSINESS BSP eyes PH shift to coin-lite society BUSINESS BIZ BUZZ: IMF called out, again BUSINESS UAE’s Masdar commits $15-B investment in PH renewable projects

READ: Wall Street rally loses steam as European luxury shares advance

“Consumers came out to spend this holiday season and clearly underscored the solid growth in the U.S. economy,” the trade group’s chief economist Jack Kleinhenz said in a statement. “The spending pace was back to pre-pandemic growth and indicates a good start for the year ahead.”

Article continues after this advertisement

Analysts were concerned about the compressed season — there were five fewer days between Thanksgiving and Christmas this year. But Kleinhenz said the truncated period influenced the continued trend of more online shopping. He also noted a return to shopping in physical stores and a focus on early buying. But Kleinhenz cautioned that even though consumers are still relatively healthy, they remain budget-conscious.

hippy slot

The National Retail Federation’s calculations are based on Census Bureau data but excludes automobile dealers, gas stations, and restaurants.

Your subscription could not be saved. Please try again. Your subscription has been successful.

Subscribe to our daily newsletter

Data released by the BSP on Tuesday showed the public sector’s foreign borrowings from July to September this year went up by 36 percent from the $2.81 billion in the same period last year.

The federal and state governments’ tax revenue reached a total of 86.2 billion euros ($93.54 billion) last month, according to the ministry’s monthly report.

SIGN ME UP

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.acegame888

ph222 READ NEXT ILO to examine labor complaint against Saudi Arabia Cartier owner posts record sales despite China slump EDITORS' PICK FireAid concert to feature Lady Gaga, Sting, Billie Eilish and more Lawmakers: Why Chinese minority  shareholder as NGCP chair? Enrile questions INC ‘logic’ vs Sara impeach raps Australian Open: Learner Tien stuns Daniil Medvedev in late night epic UAE’s Masdar commits $15-B investment in PH renewable projects Music industry girds for looming US TikTok ban  MOST READ Marcos on Enrile's impeachment view: 'He's right' but 'it's problematic' John Arcilla, Derek Ramsay react to viral video of sampaguita vendor, security guard NLEX warns of heavy traffic on Jan. 18-19 due to PH Arena concert PH, China agree to honor provisional understanding on Ayungin trips Follow @FMangosingINQ on Twitter --> View comments