Retailers report good sales news

NEW YORK – 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 Wednesday.

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.

Analysts are forecasting that holiday sales – which usually produce about 40 percent of retailers’ annual profit – rose faster than in any year since 2006.

More details on holiday spending will be revealed today when selected major retailers, including Target Corp. and Macy’s Inc., report their sales at stores open at least a year. The International Council of Shopping Centers predicts that key figure will rise 3.5 percent for December and 4 percent for November and December, the biggest increase for the holiday period since 2006.

The National Retail Federation, which bases its forecast on government data, expects to see that retail sales rose 3.3 percent for November and December. Government figures for December are due Jan. 14.