Holiday spending in 2024 exceeded expectations, with retail sales rising 3.8% from November 1 to December 24, surpassing both projections and last year’s growth.

This surge reflects strong U.S. consumer spending, despite high interest rates. Online sales were particularly robust, growing 6.7%.

Jewelry, apparel, and electronics saw solid gains. Consumers showed a preference for discounts, especially during promotional periods.

The spending boost underscores the resilience of the U.S. economy, supported by steady GDP growth and a low unemployment rate, ABC News has reported.

Despite high borrowing costs, consumer spending remains a key driver of economic strength.

Written by B.C. Begley