US Holiday Retail Sales Growth Weakest Since 2008

This is the first of many articles and data points that you will begin to see in the media outlets regarding the 2012 holiday shopping season.  According to this CNBC article courtesy of SendingPluse 2012 reatils sales saw it lowest increase since the 2008 recession year.

There were so many factors to consider this year when it came to spending so let's check off a few of the major ones.

1. Super storm Sandy
2. A once again unseasonably warm winter
3. Fiscal Cliff
4. Tragedy at Sandy Hook in Newtown, CT

I'm sure that you could add to the list but the point here is that there were plenty of reason to stay away form the stores and for consumers to cut back on their spending.

Full CNBC piece here

• A report that tracks spending on popular holiday goods, the MasterCard Advisors SpendingPulse, said Tuesday that sales in the two months before Christmas increased 0.7 percent, compared with last year. Many analysts had expected holiday sales to grow 3 to 4 percent.
• In 2008, sales declined by between 2 percent and 4 percent as the financial crisis that crested that fall dragged the economy into recession. Last year, by contrast, retail sales in November and December rose between 4 percent and 5 percent, according to ShopperTrak, a separate market research firm. A 4 percent increase is considered a healthy season.
• The SpendingPulse data include sales by retailers in key holiday spending categories such as electronics, clothing, jewelry, luxury goods, furniture and other home goods between Oct. 28 and Dec. 24. They include sales across all payment methods, including cards, cash and checks.

Getty Images