Via KSTP, according to the Mastercard Advisors SpendingPulse, a report that tracks spending on popular holiday goods, U.S. holiday retail sales this year grew at the weakest pace since 2008, when the nation was in a deep recession. Many analysts had expected holiday sales to grow 3 to 4%. Instead, sales in the two months before Christmas increased 0.7 percent, compared with last year.
Reports blame the weak sales on bad weather and consumers' rising uncertainty about the economy.
Cross-posted at Davis & Emmer's NewsTalk Blog.