Buyers and sellers always look up to the holiday season. Despite the high inflation, consumer spending has remained resilient. According to the Commerce Department, consumer spending increased 0.8% sequentially in October, posting its highest gain since June. Also, the U.S. Census Bureau reported that the overall retail sales in October rose 1.3% sequentially and 8.3% year-over-year.
Although high inflation is plaguing consumers, holiday spending is expected to remain robust. According to the NRF, holiday retail sales during November and December will grow between 6% and 8%.
