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Sunday, November 27, 2011

Report: Black Friday sales up 7%

by Calculated Risk on 11/27/2011 09:52:00 AM

With all the "Black Friday" reports, it is important to remember that retail sales are only a small portion of consumer spending.

According to the Bureau of Economic Analysis (BEA), of the $10.8 trillion in personal consumption expenditures in Q3 (seasonally adjusted annual rate), about 34% was spent on goods. From Suzi Khimm at the Wonkblog: Why a Black Friday frenzy doesn’t mean jobs are coming back

Consumer spending on goods is starting to rebound, but spending on services — a key driver of job growth — is lagging significantly farther behind.
And from MarketWatch: Black Friday posts big retail-sales gains vs. 2010
U.S. retailers posted sizable "Black Friday" gains vs. 2010's day-after-Thanksgiving sales results, according to data released Saturday. Store sales, according to Chicago-based ShopperTrak, rose 7%, as shoppers spent $11.4 billion, up nearly $1 billion from a year ago ...
Summary for Week Ending Nov 25th
Schedule for Week of Nov 27th