News

November retail beats last year's sales by 6%

December 28, 2017

It was a happy November for retailers as sales increased 6 percent compared to a year ago, according to the National Retail Federation.

Online and non in-store sales grew 10.5 percent year-over-year, according to a release, which NRF stated illustrates the growth of online commerce. The figures cited by NRF do not include gas stations, restaurants or auto purchases.

"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 the release. "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."