NEW YORK (AP) — Sales for the 2023 holiday season slowed from its blistering pace a year ago, but business was still solid despite inflation and high interest rates, according to the nation’s largest retail trade group.
Holiday sales in November and December rose 3.8% to $964.4 billion, according the National Retail Federation, the largest retail trade group in the U.S. That was a slower pace than the 5.4% increase a year earlier. But the growth was in line with the forecast for a 3% to 4% growth for the period.
It was also more consistent with the average annual holiday increase of 3.6% from 2010 to 2019 before the pandemic supercharged consumer spending.
The National Retail Federation's calculations are based on Census Bureau data but excludes automobile dealers, gas stations, and restaurants.
Before you make your next trade, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis.
Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list.
They believe these five stocks are the five best companies for investors to buy now...
See The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know?
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
