U.S. Retail Sales Between Nov. 1 and Dec. 24 Grew 3.5% Over Last Year_Industries_News

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U.S. Retail Sales Between Nov. 1 and Dec. 24 Grew 3.5% Over Last Year

Release date:2016-11-30 Views:106

Core Tip: U.S. retail sales between Nov. 1 and Dec. 24 grew 3.5% over last year, helped by mall discounts and sales of jewelry and c

U.S. retail sales between Nov. 1 and Dec. 24 grew 3.5% over last year, helped by mall discounts and sales of jewelry and children's clothing, according to industry analysis firm MasterCard Advisors.

The increase in purchases, combined with bad weather, caused some parcel carriers to miss pre-Christmas delivery deadlines to consumers, the Associated Press reported.

Retail sales in holiday-related categories, which include luxury goods, electronics and clothing, rose 2.3% in the Nov. 1 to Dec. 24 period, MasterCard Advisors said in its SpendingPulse report. The report, released Dec. 26, tracks retail and online spending that use all payment forms.

"You are seeing, 'It's OK for me to go out and spend,' " Sarah Quinlan, a senior vice president at MasterCard Advisors, told Bloomberg News. "That being said, they are still being cautious, and they are picking their retailers. It is not hot 2006-2007 spending we are seeing."

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U.S. Retail Sales Between Nov. 1 and Dec. 24 Grew 3.5% Over Last Year