US holiday sales up 4% amid signs of spending slowdown in Dec

New York

US holiday sales rose 4 per cent from a year earlier, marking the biggest increase since 2011, even amid signs of a consumer-spending slowdown in December, according to the National Retail Federation (NRF).

Holiday spending growth had been forecast to rise a slightly higher 4.1 per cent in the period, which spans November and December. Still, the increase was well above the previous year's 3.1 per cent gain and the 10-year average of 2.9 per cent, the Washington-based trade group said.

While the gain was nearly in line with the estimate, US Commerce Department figures released on Tuesday raised concerns that spending slowed in December. Retailers spread out the holiday season this year, encouraging shoppers to make more purchases before Thanksgiving. That may have robbed some sales from the weeks leading up to Christmas, even as lower unemployment and cheap fuel put more money in consumers' pocke…