IE Business Daily Business news for the Inland Empire.
U.S. retail sales posted strong year-over-year growth in November, helped by the first days of what appears to be a positive holiday shopping season, according to the National Retail Federation.
Excluding automobiles and gasoline, sales were up 4.5 percent year-over-year, and 1.2 percent month-over-month, the federation reported.
The month-over-month data was seasonally adjusted, the year-over-year data was not. All information was gathered by Affinity Solutions, a retail analysis company in New York.
“Retail sales showed healthy year-over-year gains in November, while month-over-month data was largely flat,” said Matthew Shay, the federation’s president and chief executive officer, said in a statement. “Consumers are focusing on value, and spending carefully, during the holiday period, and retailers are offering products at competitive prices to fit every budget.”
November’s numbers are in line with the federation’s holiday shopping forecast, a 3.7 to 4.2 percent increase compared with 2024, and more the $1 trillion in sales, according to Shay.
Total retail sales were up five percent year-over-year during the first 11 months of the year, the federation reported.
