7.9% Improvement
According to MasterCard's research, holiday shopping revenue was up 7.9% this year. That easily outpaces last year's 5.5% improvement and places early reports of weak holiday sales right in the trash bin where it belongs.
As shared with you a few weeks back, we should ignore the early reports of poor holiday sales because there was simply no way it would turn out badly in the end given the improved conditions for consumers. That equation goes like this:
Higher employment / income + energy savings + no inflation + stronger consumer sentiment readings = stronger retail sales
This good news helped propel the S&P to a hefty 1.06% on the day...which also pushes the index into positive territory on the year. Will it end in positive territory as well? With only 2 more sessions to go it may skirt my breakeven predictions...yet still go down as a lame year for investors like 2011. Hopefully the New Year has a little more cheer in store.
... happy New Year !! ....
