Pre-Christmas sales were evidence of the new strength of the US economy

Pre-Christmas sales were evidence of the new strength of the US economy

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Предрождественские продажи стали свидетельством новой силы экономики США

According to experts, the sales growth amounted to 4.9 percent, the highest level since 2011

This year the Americans with great enthusiasm have made the pre-Christmas shopping in shopping malls and via the Internet. According to experts, this contributed to the improvement of the situation on the labour market and cold weather.

Buyers went on a lavish spending during a weekend “black Friday” in late November, which opened the season of Christmas sales, after which purchasing activity increased in December, analysts say.

The experts will be able to bring the final results of holiday sales until January. They will include sales data for the day after Christmas, December 26, which usually is one of the busiest days for trading in a year.

But preliminary data indicate a successful year overall. Estimated to Mastercard SpendingPulse, sales growth in the pre-Christmas season was 4.9 percent, which is the highest figure since 2011.

“Overall, this year has brought big benefits for the retail industry, said senior Vice President for market analysis Sarah Quinlan. Is, in particular, due to the strength of the U.S. economy, but we must also recognize that the trading network, which used a new strategy to attract buyers for the holiday season, benefited from this sales growth”.

Analytical company IHS, Markit points to good macroeconomic indicators, such as the maximum in 17 years, consumer confidence in the United States, reached in November and the minimum in 17 years, the unemployment rate, which allowed buyers to open their wallets.

Cold weather in large parts of the country also contributed to the sales of jackets and other winter clothes, says the Executive Director of IHS, Markit Chris Christopher.

“There has been a significant increase in pre-holiday sales, says Christopher, who changed its forecast of sales growth until the end of December from 4.2 to 4.7 percent. – Everything points to a good holiday season”.

The emergence of the law on large-scale tax cuts, which was adopted by the Republicans in Congress, with the support of President Donald trump, is also likely to have increased spending buyers, although Christopher notes that “the figures were strong even before this.”

Analysts also noted that the fact that Christmas fell on a Monday, contributed to making purchases at the last moment, before the holiday weekend.