Reported about 11 hours ago
Retail spending during the November and December holiday season hit $994.1 billion, exceeding the National Retail Federation's forecast and representing a 4% increase from the previous year. The rise in consumer spending is attributed to cooling inflation, although many remain cautious with their budgets. Most retail categories saw year-over-year growth, with nearly 30% of spending occurring online. Despite concerns about potential future inflation, consumers are showing a willingness to spend, suggesting a promising start to 2025.
Source: YAHOO