NRF: Holiday Retail Sales Increase

According to the National Retail Federation (NRF), December retail sales (excluding automobiles, gas stations and restaurants) increased 0.8 percent seasonally adjusted from November, and 2.1 percent unadjusted year-over-year. Total holiday retail sales increased 3 percent, below NRF's projected forecast of 4.1 percent, to $579.8 billion. Additionally, nonstore holiday sales grew 11.1 percent. In October, Shop.org forecasted a 12 percent growth in online sales in November and December.