U.S. retail sales for the 2018 holiday season were the strongest in six years, according to early data reported by the Wall Street Journal.
The newspaper reports:
Total U.S. retail sales, excluding automobiles, rose 5.1% between Nov. 1 and Dec. 24 from a year earlier, according to Mastercard SpendingPulse, which tracks both online and in-store spending with all forms of payment. Overall, U.S. consumers spent over $850 billion this holiday season, according to Mastercard.
The latest numbers suggest that despite the volatile stock market and partial government shutdown, consumer confidence hasn’t been shaken.
President of Customer Growth Partners, Craig Johnson told the newspaper, “Wall Street is running around like a chicken with its head cut off, while Mr. and Mrs. Main Street are happy with their jobs, enjoying their best wage increases in a decade.” He also noted that lower gas prices also contributed to last-minute shopping.
For the full report, click HERE.
