NRF: November Retail Sales Up 6 Percent Over Last Year
Retailers received some awesome news on Thursday as the National Retail Federation reported that November retail sales were up 6 percent over last year. Additionally, month-over-month, sales were up 0.9 percent over October, according to NRF. Growth was driving (as we've been saying for quite some time now) by the exceptional performance of online sales. According to NRF, online and other non-store sales grew 10.5 percent over last year.
“This has been an impressive start to the holiday season, perhaps the best in the last few years,” NRF Chief Economist Jack Kleinhenz said in a statement. “The combination of job and wage gains, modest inflation and a heathy balance sheet along with elevated consumer confidence has led to solid holiday spending by American households.”