Black Friday retail sales growth picked up this year, Mastercard said Saturday, as shoppers shook off economic uncertainty and weak sentiment.
Why it matters: The consumer remains the engine of the U.S. economy, and a strong start to the holiday season will be reassuring to those who questioned whether tariffs and a soft labor market might crimp demand.
By the numbers: Friday's retail sales excluding autos rose 4.1%, Mastercard SpendingPulse said in a statement. That's stronger than last year's 3.4% growth.
- Online sales rose 10.4%; in-store sales rose 1.7%. The data are not adjusted for inflation.
- Demand was strongest for clothes and jewelry.
The Mastercard data lines up with other evidence that shoppers turned out Friday.
- Pass_by, which analyzes retail foot traffic, said in-store visits rose 1.17% this year versus last.
- Adobe Analytics estimated Black Friday online spending at $11.8 billion, up a full $1 billion from last year.
Between the lines: Though economic vibes are generally weak, retailers are still optimistic.
- Walmart recently raised its outlook for the year, and the National Retail Federation expects this to be the first $1 trillion holiday season.
What to watch: Cyber Monday will be the next key indicator of retail's health.
