Surge in Retail Industry Helps to Propel Economy

Holiday shopping, along with strong consumer confidence, are propelling the economy.  But will it last?  Seems that unemployment rates have remained low and the Fed is positioned to raise interest rates to slow the growth and reduce the chances of inflation. We may need to wait into the first quarter of 2016 to see if the surge in retail sales continues…or if it’s just a holiday cycle.

According to our friends at The Private Bank, there are many positive statistics. Retail sales posted the biggest gain in four months. Consumer spending rose solidly in November, indicating that the holiday shopping season got off to a brisk start. The Commerce Department said that retail sales rose a seasonally-adjusted .2% in November after a .1% gain in the previous month. Excluding purchases of autos and gas, retail purchases climbed .5%--the biggest advance since July. Eight of the 13 major retail categories showed increases last month, led by internet retailers, general merchandise stores, apparel shops, and sport-goods merchants. Falling gas prices weighed on receipts at gas stations as the price of regular gasoline fell 6.7% last month.

Stay tuned to see if the momentum can build in to 2016. Read more about the services Schneider Downs offers the retail industry on our Retail Industry Group webpage.

Source: The Private Bank

You’ve heard our thoughts… We’d like to hear yours

The Schneider Downs Our Thoughts On blog exists to create a dialogue on issues that are important to organizations and individuals. While we enjoy sharing our ideas and insights, we’re especially interested in what you may have to say. If you have a question or a comment about this article – or any article from the Our Thoughts On blog – we hope you’ll share it with us. After all, a dialogue is an exchange of ideas, and we’d like to hear from you. Email us at [email protected].

Material discussed is meant for informational purposes only, and it is not to be construed as investment, tax, or legal advice. Please note that individual situations can vary. Therefore, this information should be relied upon when coordinated with individual professional advice.

© 2024 Schneider Downs. All rights-reserved. All content on this site is property of Schneider Downs unless otherwise noted and should not be used without written permission.

our thoughts on
Get the Low Down Before You Download: Exploring the Temu App’s Security Risks
Fortifying Retail Security: Essential Cybersecurity Tools and Software
Ensuring Network Security in the Retail Industry: A Crucial Imperative
Tis the Season: Unwrapping the Top Holiday Scams of 2023
ESG in Retail – A Movement Towards Sustainability
Protect Your Retail Business: 3 Common Cyber Attack Methods to Watch Out for in 2023
Register to receive our weekly newsletter with our most recent columns and insights.
Have a question? Ask us!

We’d love to hear from you. Drop us a note, and we’ll respond to you as quickly as possible.

Ask us
contact us
Pittsburgh

This site uses cookies to ensure that we give you the best user experience. Cookies assist in navigation, analyzing traffic and in our marketing efforts as described in our Privacy Policy.

×