WASHINGTON (TND) — November retail sales rebound and rose 3% last month as Americans shop for the holidays.
JLL President of Retail Shopping Management Kristin Mueller joined The National Desk’s Dee Dee Gatton to discuss the issue.
“It was a great retail season for retailers,” she said. “We had a very, very good shopping year because almost 70% of the U.S. economy is made up of consumer spending. Consumer spending is very, very important and consumers absolutely got out and did their jobs this year.”
The Commerce Department’s latest advance monthly retail trade report for November 2023. showed a strong rebound in retail sales from October underscoring continued resilience of the U.S. consumer during the holiday shopping season.
“So not only were shoppers pleased by that, but it was very beneficial for retailers as well,” Mueller said. “The general expectation around retail sales growth was 3% to 4%. As you noted a few minutes ago, sales were up 3.1% keeping pace with inflation.”
