Black Friday sales exceeded expectations, with shoppers spending heavily both online and in stores in a sign that Americans retain considerable purchasing power heading into the final stretch of the year.
Overall retail sales excluding automotive rose 4.1 percent from last year, according to Mastercard SpendingPulse, surpassing the prior year’s 3.4 percent growth and landing near the high end of forecasts. The data, which tracks both in-person and online transactions but isn’t adjusted for inflation, suggests the holiday shopping season is off to a robust start.
“It clearly shows that the consumer has the ability to spend,” Michelle Meyer, chief economist at the Mastercard Economics Institute, told Bloomberg News.
The strong performance across multiple channels underscores consumers’ willingness to open their wallets despite headwinds that had prompted
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