November marked a pivotal turn in consumer sentiment, which surged by 13%, erasing four consecutive months of decline. The increase was primarily fueled by optimism surrounding U.S. inflation improvements and sets a promising stage for retailers approaching the year's end. With Gross Domestic Product (GDP) up 5.2% in Q3, propelled notably by heightened consumer spending, and unemployment persisting below 4%, the rise in retail sales—5.2% higher than the previous year—could be a prelude to a strong finish in holiday shopping.
© Copyright 2023. The views expressed herein are those of the author(s) and not necessarily the views of Ankura Consulting Group, LLC., its management, its subsidiaries, its affiliates, or its other professionals. Ankura is not a law firm and cannot provide legal advice.