Economic indicators provide insight into the overall health and performance of the economy. They are closely watched by policymakers, advisors, investors, and businesses because they help them to make informed decisions about business strategies and financial markets.
The Census Bureau's Advance Retail Sales Report for January showed a sharper-than-expected decline, with headline sales falling 0.9%—the largest monthly drop since March 2023 and the first decline in five months. Meanwhile, December's figures were revised upward to a 0.7% gain.
After a nearly $1 trillion holiday season, U.S. consumer spending shows no sign of slowing. The exact figure is $994 billion, according to recent findings from the National Retail Federation.
The Census Bureau's Advance Retail Sales Report for December revealed headline sales were up 0.4% last month. Additionally, November retail sales were revised higher to 0.8%.
Heading into the holiday season, many US retailers described their consumers as "selective," "cautious" and "conservative," and making "needs-based" purchases.
The Census Bureau's Advance Retail Sales Report for November revealed headline sales were up 0.7% last month. The latest reading was higher than the expected 0.6% monthly growth in consumer spending.
Holiday spending is expected to grow 2.5%-3.5% year over year. Several ETFs are poised for solid gains.
Black Friday continues to be the most popular shopping day for both in-store and online shopping.
Sales at brick-and-mortar stores grew just 0.7% year-over-year, according to preliminary estimates by payments processor Mastercard, and were lower according to data firm Facteus.
US shoppers spent a record $10.8 billion online this Black Friday, marking a 10.2% year-over-year increase, according to Adobe Analytics. As the official kickoff to the holiday shopping season, Black Friday showcased the growing dominance of e-commerce, with consumers flocking to mobile devices and desktops to snag deals on everything from electronics to beauty products.
It was a 10% rise from a year ago, according to Adobe Analytics.
Online spending hit a record $6.1 billion over Thanksgiving, according to Adobe's most recent estimates, as consumers continue to lean heavily on e-commerce.