Report: Strong start to holiday shopping

Holiday spending was off to a strong start according to November reports by the National Retail Federation (NRF).

Retail spending increased 0.8 percent in November compared to the previous month, and 4.4 percent compared to November 2011, according to the NRF, the world’s largest retail association.

“Stable employment rates, lower gasoline prices and a recovering housing market have all contributed to a holiday shopping season that is on target to meet our original expectations,” said Jack Kleinhenz, NRF chief economist. “American consumers are expected to spend cautiously as they monitor the situation in Washington and wrap up their holiday shopping lists.”