Retail spending up
Source: Agencies |
January 6, 2011, Thursday
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Print Edition
Print Edition
AMERICANS spent more on clothes, shoes, luxury goods and electronics in December than a year earlier, extending retail sales momentum that had been building since August, according to data released yesterday.
Figures released by MasterCard Advisors' SpendingPulse, which tracks spending in all forms including cash, show consumers treated themselves to new clothes and shoes while they shopped for gifts during the most important period of the year for retailers. SpendingPulse did not produce a sales figure for the whole holiday period, but it said last week that spending from November 5 through December 24 hit US$584.3 billion, excluding autos. That's 5.5 percent more than a year earlier and the biggest increase in five years.
Figures released by MasterCard Advisors' SpendingPulse, which tracks spending in all forms including cash, show consumers treated themselves to new clothes and shoes while they shopped for gifts during the most important period of the year for retailers. SpendingPulse did not produce a sales figure for the whole holiday period, but it said last week that spending from November 5 through December 24 hit US$584.3 billion, excluding autos. That's 5.5 percent more than a year earlier and the biggest increase in five years.
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