Would This Have Happened Under President Hillary? Holiday Retail Sales Soar Compare To Last Year

By Michael Snyder

We are nearly a year into Donald Trump’s presidency, and the economic numbers continue to look quite good. On Monday, we learned that U.S. retail sales during the holiday season are projected to be way up compared to 2016. Yes, there are all sorts of economic red flags popping up all over the place, and I write about them regularly. And without a doubt, 2017 has been one of the worst years for brick and mortar retail stores in a very long time. But when something good happens we should acknowledge that too, and many are giving President Trump credit for the fact that retail sales are projected to be up 4.9 percent this holiday season compared to last year…

Despite thousands of store closings this year, Americans supplied a final flurry of spending to give retailers their best holiday season sales since 2011, figures released Tuesday show.

U.S. year-end holiday retail sales rose 4.9% compared to the same period last year, a welcome gift to U.S. retailers amid new signs of consumer confidence.

Of course this doesn’t mean that things have completely turned around for the retail industry. We still absolutely shattered the all-time record for store closings in a single year, and the final number is going to be somewhere right around 7,000. The following comes from CNBC

A larger-than-average slew of retail bankruptcies and stores being shuttered rocked the industry this year, making headlines and dragging even some of the better-performing companies such as Home Depot, TJ Maxx and Costco down with the dismal news.

So far in 2017, 6,985 store closure announcements have been made, according to a tracker from FGRT (formerly Fung Global Retail & Technology). That’s up more than Click to see the original article