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Resiliency of Consumers pushes US Retail Sales Growth!   Retail sales have largely recovered from the pandemic heading into the holiday season but the growing number of coronavirus cases remains a threat and additional federal stimulus could help keep the economy on track, National Retail Federation Chief Economist Jack Kleinhenz said.   “Strong growth in retail sales during the last few months points to the resiliency of consumers even in this disruptive pandemic environment,” Kleinhenz said. “Taking in all the evidence available, the U.S. economic recovery has progressed more quickly than generally expected.”   Kleinhenz agreed with Federal Reserve Chairman Jerome Powell’s recent call for additional federal stimulus, which the chairman said “will not go to waste” even if it is more than necessary. “While there might be sufficient momentum and resiliency to propel the economy in the months ahead, additional fiscal policy support is critical to ensure that the recov...

Gen Z and millennials to spend more in holiday season! Holiday shopping is in full swing and consumers still have a lot more spending to do as they check off every item on their holiday wish list, according to a new consumer sentiment survey released by the National Retail Federation and Prosper Insights & Analytics.   “This holiday season retailers will experience the growing purchasing power of Gen Z and millennials,” NRF President and CEO Matthew Shay said. “Whether they are still in college or raising children, these consumer groups embrace the tradition of prior generations and take full advantage of Thanksgiving weekend deals both online and in stores.” While 77 percent of all consumers surveyed said they would spend the same or more this year, 43 percent of young adults ages 18-24 and 38 percent of those 25-34 said they would spend more. Only 9 percent of those 65 and older are planning to spend more. “Americans continue to engage in holiday tradi...