Strongest Holiday Sales Since Great Recession Rose 5.5%, Topping Industry’s Forecast

Holiday sales jumped 5.5 percent compared with last year, marking the largest jump seen since the end of the Great Recession, the National Retail Federation said Friday.

Total sales for November and December were $691.9 billion, exceeding the industry trade group’s¬†forecast of between $678.75 billion and $682 billion, which would have been an increase of between 3.6 and 4 percent.

“We knew going in that retailers were going to have a good holiday season but the results are even better than anything we could have hoped for,” NRF President and CEO Matthew Shay said.

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Source: CNBC