U.S. Outlook: The U.S. consumer is doing just fine
There was much concern earlier this week after the National Retail Federation’s estimate of an 11% drop in Thanksgiving weekend sales.
Below are highlights of my weekly economic analysis, followed by a link to the full U.S. Outlook report, delivered on Dec. 5.Key observations:
- Consumer spending still looks strong despite gloomy Black Friday estimates.
- The National Retail Foundation data doesn’t come from actual sales receipts.
- ComScore reported Cyber Monday sales were up 17% compared to last year.
- U.S. vehicle sales rose more than expected in November.