Cyber Monday – Record Retail Sales Trump Cliff Concerns, for Now

Cyber Monday – Record Retail Sales Trump Cliff Concerns, for Now By Phil of Phil’s Stock World We shopped ’till we dropped this weekend. Consumer spending over the four-day Thanksgiving weekend climbed 13% to $59.1B, although the growth was slower than the 16% last year. Average spending per customer rose 6.3% to $423. Online sales on Black Friday jumped 26% and topped $1B for the first time, says ComScore, which forecasts that Internet sales over the holiday season will grow 17% to a record $43.4B.  Movie tickets also hit a record $290M for the weekend. Congress returns to work this week and seems to have made no actual progress on a deal to avoid the Fiscal Cliff – just 5 weeks away from triggering now.  Over in Europe, there’s the imminent Greek Cliff, with the Troika making their 3rd attempt today to come up with an agreement to reduce ...