US holiday sales up 7.6 percent, reports Mastercard

NEW YORK CITY, New York: According to a report released by Mastercard this week, between 1st November and 24th December US retail sales rose by 7.6 percent due to heavy holiday discounts that attracted consumers looking for sales.

While the increase is higher than the 7.1 percent rise forecast in September, this year's holiday retail sales growth is less than last year's 8.5 percent increase.

The reasons