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Holiday retail sales up 3 percent, to $579.8 million |
01.18.2013
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Solid consumer spending in December helped retailers finish healthy, but economic uncertainties sent a cautious consumer to the stores. According to trade group the National Retail Federation (NRF), December retail sales (excluding cars, 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 $4.1 billion. Non-store holiday sales grew 11.1 percent, showing increased online sales in November and December.
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"For over six months, we've been saying that the fiscal cliff and economic uncertainty could impact holiday sales. As the number shows, these issues had a visible impact on consumer spending this holiday season," NRF President and CEO Matthew Shay said.
December retail sales, released today by the U.S. Department of Commerce, showed that total retail and food services sales (which include cars, gasoline stations, and restaurants) increased 0.5 percent seasonally adjusted month-to-month and increased 4.7 percent adjusted year-over-year.
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