Economics
U.S. Holiday Retail Sales Rose 3%, Driven by Online Shoppers
- Extended ‘holiday’ season ran Oct. 11-Dec. 24: Mastercard
- Home-related sectors had strong growth while apparel declined
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U.S. holiday season sales beat low expectations for the pandemic year as online shopping surged.
Total retail sales grew 3% over the extended 75-day holiday period, versus a forecast of 2.4%, according to Mastercard SpendingPulse, which tracks online and in-store retail sales across all payment methods. The number is far better than the 3.5% drop recorded during 2008, the last U.S. recession.