WASHINGTON, Dec. 14 (Xinhua) -- Retail sales in the United States rose 0.7 percent in November from the previous month, which was 5 percent higher than the reading a year ago, National Retail Federation (NRF) said on Friday.
NRF predicted that holiday retail sales during November and December could reach a total figure between 717.45 billion and 720.89 billion U.S. dollars, which could be 4.3 to 4.8 percent higher than the same period in 2017.
Over the year, sales at most of the key retail sectors saw a significant increase, according to NRF.
Online and other non-store sales rose 12.1 percent year over year, while sales at general merchandise stores increased 4.2 percent from a year ago.
Besides, sales at electronics and appliance stores rose 5 percent from a year ago, as sales at clothing and clothing accessory stores increased 4.1 percent year over year.
However, sales at sporting goods stores dropped 7.8 percent year over year, according to NRF.
Jack Kleinhenz, chief economist of NRF, said that the increased consumption resulted from the influence of stronger employment, improved wages, tax cuts and increased net worth.
"This is a good start to the holiday season and consistent with our outlook. Consumer spending remains solid and clearly provides evidence that the economy is healthy as we head into 2019," Kleinhenz added. Enditem
