Retail sales remained strong in November despite two key Thanksgiving weekend shopping days falling in December this year, according to the CNBC/NRF Retail Monitor. NRF Chief Economist Jack Kleinhenz highlighted robust third-quarter results and ongoing economic growth as drivers for a solid holiday season. NRF continues to project holiday sales growth of 2.5% to 3.5% over 2023.
Meanwhile, labor talks between the International Longshoremen’s Association (ILA) and the U.S. Maritime Alliance (USMX) have stalled, raising concerns of a potential strike when the current contract extension ends on January 15, 2025. NRF, along with 267 trade associations, has urged both parties to avoid disruptions that could coincide with the incoming administration’s tariff increases.
According to NRF’s Global Port Tracker, U.S. ports are bracing for increased imports well into spring 2025 due to these challenges.
To stay informed, register for NRF’s retailers-only webinar on December 19 at 1:30 p.m. ET. The session will explore the economic impact of proposed tariffs and findings from the Trade Partnership Worldwide report, particularly on household goods.
