Holiday shopping surges, flexing strength of US economy

Holiday spending in 2024 exceeded expectations, with retail sales rising 3.8% from November 1 to December 24, surpassing both projections and last year’s growth.

This surge reflects strong U.S. consumer spending, despite high interest rates. Online sales were particularly robust, growing 6.7%.

Jewelry, apparel, and electronics saw solid gains. Consumers showed a preference for discounts, especially during promotional periods.

The spending boost underscores the resilience of the U.S. economy, supported by steady GDP growth and a low unemployment rate, ABC News has reported.

read more: https://abcnews.go.com/Business/holiday-shopping-surges-flexing-strength-us-economy/story?id=117114502

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