Economics: US holiday retail sales up

Economics: US holiday retail sales up Dave Coker · Follow Published in DataDrivenInvestor · 7 min read · 2 days ago 2 days ago -- 2 Sharebubble troubleSome good news for the retail sector, as mixed economic news clearly didn’t impact Christmas spending by consumers, as we saw an increase of 3.1%, which is roughly inline with historical norms. We track retail spending to gain insight not only into the behaviour of the US consumer, but also the US economy, which will, of course, impact financial markets going forward. Retail spending isA KEY DRIVER OF THE US ECONOMYnot only accounting for some 70% of GDP but also — a point many miss — significant employment. Over the past six years the retail sector has been the single largest contributor of job gains, accounting for the creation of some 10M jobs. We know a combination ofHIGH INFLATION HIGH INTEREST RATEShas many Americans struggling just to cover the necessities of life, let alone holiday spending…