Economy Makes A Comeback?

This was surprising.

In finally some good but rare new for President Biden, it has been that U.S. retail sales increased by 7.6 percent during the holiday season even though Biden’s inflation ran rampant and fears of recession continue to grow.

According to The Hill, Mastercard’s SpendingPulse tracker which accounted for the dates ranging from Nov. 1 through Dec. 24 was actually lower than 8.8 percent sales which occurred between 2020 to 2021 but it did exceed the 7.1 percent financial experts predicted.

Thankfully for President Biden, Black Friday sales were up to 12 percent compared to last year and online sales increased by 10.6 percent. 

E-commerce sales accounted for 21.6 percent of all retail sales this year showing a growing shift to online sales.

Mastercard senior adviser Steve Sadove explained, “Retailers discounted heavily but consumers diversified their holiday spending to accommodate rising prices and an appetite for experiences and festive gatherings post-pandemic.”