Retailers made out good on the gift-giving this season🀅. 

Consumers spent $994.1 billion in the last two months of 2024, according to the National Retail Federation, surpassing the trade group's $979.5 to $989 billion forecast. “Core” retail sales—everything but gas, car and restauraꦓnt purchases—rose 4% from the 2023 holiday season, according to the NRF analysis of U.S. C𓆏ensus Bureau data, also more than the NRF expected.

The holidays wrapped up a year in which Americans spent a record $5.28 trillion, the NRF said. The group's analysis isn't adjusted for inflation.

🍷 “The spending pace was back to pre-pandemic growth and indicates a good start for the year ahead,” NRF Chief Economist Jack Kleinhenz said.

Business grew year-over-year in most categories tracked by the NRF. Americans spent 5.6% more at furniture and home goods stores compared to last November and December, the group said. Electronics and appliance stores saw a 3.7% rise, the NRF said.

Nearly 30% of the seasonal spending—$296.7 billion—occurred online or outside of physical stores, NRF said. Digital shopping surged, according to several ana༒lysts, while buying was less brisk in brick-and-mortar stores. 

Americans were more comfortable spending because inflation has come down some since last winter, Kleinhenz said. The Consumer Price Index rose 2.7% in November over a year earlier, and 澳洲幸运5官方开奖结果体彩网:2.9% in December, but the cost-of-living estimate had more significant increases in late 2023, according to Bureau of Labor Statistics data.

Still, some Americans are growing concerned that inflation will rise again, and 澳洲幸运5官方开奖结果体彩网:consumer sentiment dipped inღ January. Saving money remains a priority 🐼for many, according to Kleinhenz.

“Even though consumers a🌸re still relatively healthy and there was a notable increa♑se in spending, they remain budget conscious,” he said.

The NRF's analysis comes as the Census Bureau released December retail sales data that showed American consumers logging 澳洲幸运5官方开奖结果体彩网:slightly less sales growth than expected when compared to November levels.