economy

Trump Confuses With Bombastic Holiday Retail Sales Boast

"CONGRATULATIONS AMERICA!"

"2019 HOLIDAY RETAIL SALES WERE UP 3.4% FROM LAST YEAR, THE BIGGEST NUMBER IN U.S. HISTORY", Donald Trump shouted, in all-caps on Christmas Day. "CONGRATULATIONS AMERICA!", he went on to shriek. That tweet fostered quite a bit of confusion. Trump is seemingly referring to Mastercard SpendingPulse, which measures consumer spending across all payment types including cash and check. According to preliminary data, this was, in fact, a record year for online sales during the winter shopping season. Mastercard's data shows E-commerce sales jumped 18.8% from November 1 through Christmas Eve, and comprised nearly 15% of total retail sales. Overall holiday retail sales, excluding auto, rose 3.4%". Notably, this was a shorter holiday shopping season. "Due to a later than usual Thanksgiving holiday, we saw retailers offering omnichannel sales earlier in the season, meeting consumers’ demand for the best deals across all channels and devices", Steve Sadove, a senior adviser for Mastercard said. That's what we know. Well, actually, we know a few other things, too. We also know that, as Reuters points out in what very well may be the source article for Trump's tweet, The National Retail
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1 comment on “Trump Confuses With Bombastic Holiday Retail Sales Boast

  1. Lance Manly says:

    These metrics are almost always wrong. As you said last Dec was a disaster despite the hoopla. It did not recover until March https://fred.stlouisfed.org/graph/fredgraph.png?g=pMOK

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