Retail sales boomed in both Japan and the U.S markets during the holiday seasonUpdated time: 20 Jan, 2022, 13:45 (UTC+04:00)
Retail sales boomed in both Japan and the U.S markets during the holiday season as if concerns of Omicron have not affected consumers’ seasonal spending habits. Specifically:
- The Japanese government already approved $940 billion for the fiscal year 2022, including cash payouts to households and businesses affected by the pandemic to encourage more spending. Consumption-led recovery was what this country targeted, by seeking to rebound by an annualized 6.1% in 2021’s last quarter after facing a slump in July-September.
- The U.S.’s retail sales soared 8.5% thanks to mass ecommerce shopping, accounting for 11% rise within the holiday season only. Brick-and-mortar stores also experienced customers’ rush to secure their gifts in advance. Jewelry and electronics were among the most growing sectors.
Oil prices mixed, clouded by airlines’ uncertain future and OPEC+’s next meeting on 4 January about whether to keep the 400,000 barrels per day production increase by February 2022.
Crypto trading was mostly muted on Christmas. Today, BTC retreated to below $50,000 after benefitting from the Santa rally. ETH and other altcoins moved slowly over the weekend. One exception is the polkadot (DOT) that rose over 8% in the past 24 hours.