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What happened this holiday selling season?

December 28, 2020

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In the first major post-holiday report, Mastercard has projected U.S. retail sales grew 3.0 percent in the expanded selling season from Oct. 11 through Dec. 24, short of 2019’s four percent gain, but ahead of a forecast for 2.4 percent growth.

Mastercard SpendingPulse tracks online and in-store spending with all forms of payment.

The Wall Street Journal noted that Mastercard’s data showed U.S. retail sales rose only 2.4 percent for the two-month period — Nov. 1 to Christmas Eve — below the 3.6-to-5.2 percent growth predicted by NRF. The publication indicated a “more complete picture” of holiday spending won’t arrive until the government’s December figures and retail’s quarterly results arrive.

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