Posted on 12/14/2017 4:41:19 PM PST by Sub-Driver
Americans Spend More Than Expected as Holiday Season Heats Up
November retail sales up 0.8% from prior month; economists saw 0.3% increase
By Sharon Nunn Updated Dec. 14, 2017 1:40 p.m. ET 27 COMMENTS
WASHINGTON—Americans are spending more this holiday season than analysts expected, fueled by income gains, confidence in the economic outlook, buoyant financial markets and modest inflation.
That includes spending at brick-and-mortar stores such as Walmart Inc. and Nordstrom Inc., which clocked the largest year-over-year November sales increase in seven years. Home-furnishing stores, electronics and appliance stores also posted strong spending numbers, despite competition from online shopping websites, which also posted robust gains.
“It’s an impressive start to the holiday season and probably the best in the last few years,” said Jack Kleinhenz, chief economist at the National Retail Federation, a group that represents retail stores. “When you put the pieces together, job and wage gains, modest inflation, healthy balance sheet and elevated consumer confidence … there’s an improved willingness to spend.”
Altogether, purchasing at online retailers, brick-and-mortar stores and restaurants rose 0.8% in November from the prior month, significantly above the 0.3% increase economists surveyed by The Wall Street Journal had expected. That was up 5.8% from a year earlier, the largest yearly November increase since 2011. Despite their woes from online competition, general merchandisers such as department stores fared well, registering a 3.6% increase from a year earlier, the best November performance since 2010.
(Excerpt) Read more at wsj.com ...
Can't we regulate some way?
Who was the congressman who said “there’s too much consumin’ going on out there”?
Anytime I go spending money, I make sure to wear my Make America Great Again hat.
Its called optimism sorely lacking in the last ten years or so
But Mark Cuban said the economy would crash under Trump!
I need to get one.
Senator Fritz Hollings, but I can't find when he said it or under what context. I mainly remember it from Rush parodying it.
Fritz “got a pass on the flag” Hollings.
Nailed it!
People have confidence in the economy and are free to spend a little extra this year.
Excellent.
Just more jobs for others...
Go spend, spend, spend
Our new credit card to use
To spend,spend spend
The finest gifts we buy
We spend, spend, spend
The bill we can not pay
We spent, spent, spent
The bankruptcy judge we'll see
We'll cry, cry, cry
To the judge we'll tell lies, lies, lies!
And BTW guys, don't be tightwads when it comes to shipping.
Media mail may be cheap but at this point I can almost guarantee that it will not be there for Christmas.
You spent $100 on the gift. Spend another ten so it arrives on time and insured.
I wear CHRISTMAS themed t’s with my jeans. Amazon had a red 1 with the Nativity and Merry Christmas on it. I snagged it up.
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