Spending data show December sales strong

Americans spent more on clothes, shoes, luxury goods and electronics in December than a year earlier, extending retail sales momentum that had been building since August, according to data released today. Figures released by MasterCard Advisors’ SpendingPulse, which tracks spending in all forms, including cash, show consumers treated themselves to new clothes and shoes while they shopped for gifts during the most important period of the year for retailers. Jewelry sparkled, and online sales soared. Even home furnishings and furniture—pummeled by the housing market slump—eked out a small increase for the period from Nov. 28 through Saturday. Meanwhile, electronics sales, hurt by aggressive discounting of televisions, rose only slightly. Analysts are forecasting that holiday sales, which usually produce about 40% of retailers’ annual profit, rose faster than in any year since 2006.