November Retail Sales Jumped 0.9% From October, 6% From 2016, Says NRF
November retail sales increased 0.9 percent sequentially from October and were up 6 percent year over year, said the National Retail Federation Thursday. Online and other non-store sales grew 10.5 percent year-over-year, reflecting the growth of online shopping, it said.…
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November’s results indicate retail sales for the holiday season -- defined as November and December -- are on track to meet or exceed NRF’s holiday sales forecast for an increase between 3.6 and 4 percent over last year, it said. November electronics and appliance store sales were up 2.1 percent from October and up 7.3 percent year over year, NRF said. “This has been an impressive start to the holiday season, perhaps the best in the last few years,” said NRF. “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.”