Holiday Retail Sales Off to a Good Start

Nov. 27, 2012
This weekend’s retail spending and the industry estimates for December bode well for ITR Economics’ forecast of ongoing economic expansion in the US into 2013.

The White House must be surprised today by the strength of the Christmas shopping over the long weekend. The weekend saw retailers taking in $59.1 billion, up 12.1% from last year’s record high level.  Online sales reached $1 billion for the weekend for the first time ever. Industry experts are anticipating that the season’s sales will come in 4.1% ahead of last year, and this is a group that is perennially pessimistic. 

The White House purported that the threat of the fiscal cliff would prove deleterious to retailers as the fear of higher taxes could keep shoppers at home. This appears to be an attempt to pressure Republicans into making a deal on keeping the Bush tax cuts in place on middle-class income earners. It didn’t work. 

Either Americans are convinced the Congress will come to a reasonable solution in time, or they are not paying any attention to Washington’s drama. Both this weekend’s spending, and the estimates for December, bode well for our forecast of ongoing economic expansion in the US into 2013.  Enjoy!

About the Author

Alan Beaulieu Blog | President

One of the country’s most informed economists, Alan Beaulieu is a principal of the ITR Economics where he serves as President. ITR predicts future economic trends with 94.7% accuracy rate and 60 years of correct calls. In his keynotes, Alan delivers clear, comprehensive action plans and tools for capitalizing on business cycle fluctuations and outperforming your competition--whether the economy is moving up, down, or in a recession.

Since 1990, he has been consulting with companies throughout the US, Europe, and Asia on how to forecast, plan, and increase their profits based on business cycle trend analysis. Alan is also the Senior Economic Advisor to NAW, Contributing Editor for INDUSTRYWEEK, and the Chief Economist for HARDI.

Alan is co-author, along with his brother Brian, of the book MAKE YOUR MOVE, and has written numerous articles on economic analysis. He makes up to 150 appearances each year, and his keynotes and seminars have helped thousands of business owners and executives capitalize on emerging trends. 

Prior to joining ITR Economics, Alan was a principal in a steel fabrication company and also in a software development company.

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