US November retail sales give holiday season solid start

The National Retail Federation (NRF), a US-based retail trade association, has announced that November retail sales dipped from the month before but still showed the sixth consecutive monthly year-over-year gain by government calculations and set the stage for a healthy holiday shopping season compared with last year despite the pandemic.

 

The National Retail Federation (NRF), a US-based retail trade association, has announced that November retail sales dipped from the month before but still showed the sixth consecutive monthly year-over-year gain by government calculations and set the stage for a healthy holiday shopping season compared with last year despite the pandemic.#

“Consumers held back on spending in November as virus rates spiked, states-imposed retail restrictions and congressional stimulus discussions were gridlocked,” Matthew Shay, NRF president and CEO, said in a press release. “While consumers have been bolstered by increases in disposable income and savings, it’s clear that additional fiscal stimulus from Congress is needed and we are hopeful it will be passed soon as we enter the final stretch of the holiday season. With retail sales up 8.8 per cent versus November 2019, we still expect a strong holiday season compared with last year.”

 

The National Retail Federation (NRF), a US-based retail trade association, has announced that November retail sales dipped from the month before but still showed the sixth consecutive monthly year-over-year gain by government calculations and set the stage for a healthy holiday shopping season compared with last year despite the pandemic.#

“The month-over-month decline isn’t surprising because some spending was pulled forward into October by campaigns encouraging consumers to shop early and shop safe,” Jack Kleinhenz, NRF chief economist, said. “Despite that, as we go into the final weeks of 2020, year-over-year trends show spending is holding up well regardless of month-to-month fluctuations. Nonetheless, we have to remember the remainder of the holiday season depends critically on the virus. We are optimistic, but spending could shift into a lower gear if the virus continues to spread.”

 

The National Retail Federation (NRF), a US-based retail trade association, has announced that November retail sales dipped from the month before but still showed the sixth consecutive monthly year-over-year gain by government calculations and set the stage for a healthy holiday shopping season compared with last year despite the pandemic.#

The US Census Bureau said that overall retail sales in November were down 1.1 per cent seasonally adjusted from October but up 4.1 per cent year-over-year. That compares with a monthly drop of 0.1 per cent but a yearly gain of 5.5 per cent in October.

 

The National Retail Federation (NRF), a US-based retail trade association, has announced that November retail sales dipped from the month before but still showed the sixth consecutive monthly year-over-year gain by government calculations and set the stage for a healthy holiday shopping season compared with last year despite the pandemic.#

NRF’s calculation of retail sales which excludes automobile dealers, gasoline stations and restaurants to focus on core retail showed November was down 0.3 per cent seasonally adjusted from October but up 8.8 per cent unadjusted year-over-year. That compared with a decrease of 0.1 per cent month-over-month and an increase of 10.5 per cent year-over-year in October. NRF’s numbers were up 10.8 per cent unadjusted year-over-year on a three-month moving average.

 

The National Retail Federation (NRF), a US-based retail trade association, has announced that November retail sales dipped from the month before but still showed the sixth consecutive monthly year-over-year gain by government calculations and set the stage for a healthy holiday shopping season compared with last year despite the pandemic.#

Monthly numbers fluctuate even when adjusted for seasonal variations, making year-over-year comparisons a better indication of long-term trends. On a year-over-year basis, retail sales have increased each month since May under NRF’s calculation and since June under the Census Bureau calculation. Retail sales during the first 11 months of the year were up 6.6 per cent, according to NRF’s calculation.

 

The National Retail Federation (NRF), a US-based retail trade association, has announced that November retail sales dipped from the month before but still showed the sixth consecutive monthly year-over-year gain by government calculations and set the stage for a healthy holiday shopping season compared with last year despite the pandemic.#

NRF has forecast that holiday sales will increase between 3.6 per cent and 5.2 per cent over 2019 to a total between $755.3 billion -$766.7 billion. While NRF defines the holiday season as November 1 through December 31, NRF research shows 42 per cent of consumers started holiday shopping sooner than usual this year after NRF urged the public to shop safe and shop early. On average, consumers had about half their holiday shopping left to do as of Thanksgiving weekend. 

 

The National Retail Federation (NRF), a US-based retail trade association, has announced that November retail sales dipped from the month before but still showed the sixth consecutive monthly year-over-year gain by government calculations and set the stage for a healthy holiday shopping season compared with last year despite the pandemic.#

November saw year-over-year gains in seven out of nine retail categories, led by double-digit increases for online sales, building materials and sporting goods stores.

 

The National Retail Federation (NRF), a US-based retail trade association, has announced that November retail sales dipped from the month before but still showed the sixth consecutive monthly year-over-year gain by government calculations and set the stage for a healthy holiday shopping season compared with last year despite the pandemic.#

Specifics from key retail sectors during November include: clothing and clothing accessory stores were down 6.8 per cent month-over-month seasonally adjusted and down 19.2 per cent unadjusted year-over-year.