Holiday Sales Increase 4.4 percent
Deals on high definition televisions appeared too good to pass up, as the consumer electronics market helped boost holiday sales by 4.4 percent. The National Retail Federation (NRF) forecast called for 5-percent growth. According to the National Retail Federation, retail industry sales for December (which exclude automobiles, gas stations and restaurants) rose 3.9 percent unadjusted over last year and increased 0.4 percent seasonally adjusted from November. November industry sales were revised down from 6.3 percent unadjusted to 5.1 percent unadjusted.
December retail sales recently released by the U.S. Commerce Department show total retail sales (which include non-general merchandise categories such as autos, gasoline stations and restaurants) rose 0.9 percent seasonally adjusted from November and increased 3.6 percent unadjusted year-over-year.
“Unseasonably warmer weather and the slower housing market had a clear impact on consumer spending,” said Rosalind Wells, NRF chief economist. “NRF expects these subdued gains to continue into the first half of 2007.”
The sluggish housing market did impact building material and garden equipment sales, which decreased 4.3 percent unadjusted from last December and were also down 1.1 percent from November.
Videos
