UPDATE 1-U.S. holiday sales rise 4.1% in 2019 on strong online sales - NRF [Reuters]
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Source: Reuters
UPDATE 1-U.S. holiday sales rise 4.1% in 2019 on strong online sales - NRF (Add NRF economist’s comments, context) Jan 16 (Reuters) - U.S. holiday sales rose 4.1% in 2019 from a year earlier, as steady wage and jobs growth encouraged shoppers to splurge on groceries, beverages and furniture, the National Retail Federation (NRF) said bit.ly/2tqKJRv on Thursday. The U.S. retail group said holiday sales, excluding automobile dealers, gasoline stations and restaurants, rose to $730.2 billion, largely above the midpoint of its forecast of 3.8% to 4.2% growth, and up from a modest 2.1% growth last year. “This was a healthy holiday season, especially compared with the decline in retail sales we saw at the end of the season in 2018,” NRF Chief Economist Jack Kleinhenz said, noting that trade policy turmoil, a government shutdown and financial market volatility took a toll on the industry. The trade body also said online and non-store sales, which are included in the overall number, grew 14.6%
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