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<ul class="summary-list"><li>The NFL will play two nationally televised games on Christmas this year.</li><li>Previously, the NFL avoided games on Tuesdays and Wednesdays, but the TV ratings were huge.</li></ul>The NFL is already deeply entwined with Thanksgiving, and now it wants to be a bigger part of Christmas.<a target="_blank" class="" href="https://affiliate.insider.com?disabled=1&amp;h=da87257629e2ed94e92e971117f6d935a62a1a03acbe85893ff56b7abb0618a4&amp;postID=66169abfd6bbe8bd161355b3&amp;postSlug=nfl-christmas-day-games-tradition-football-history-thanksgiving-tv-ratings-2024-4&amp;site=bi&amp;u=https%3A%2F%2Fwww.nfl.com%2Fnews%2Fnfl-to-play-two-games-on-christmas-a-wednesday-during-2024-season">The NFL announced</a> in March that it will play two nationally televised games on Christmas this year.While the league has played games on December 25 before, this year is unusual because the holiday falls on a Wednesday, a day the league typically avoids. And, after 2024, the NFL will have had the same number of games on Christmas in the last two years as it did between 1973 and 2003. If that trajectory continues, NFL games on Christmas could be an <a target="_blank" href="https://theathletic.com/5131860/2023/12/15/nfl-christmas-day-games-schedule-tradition/">annual tradition moving forward</a>, and the move could have a huge impact on how millions of Americans spend the holiday.Previously, the NFL only played on Christmas when it fell on one of the traditional days for NFL games — Sunday, Monday, Thursday, and Saturday. The NFL typically avoids games on Tuesdays and Wednesdays to avoid <a target="_blank" href="https://www.nbcsports.com/nfl/profootballtalk/rumor-mill/news/nfl-seems-to-be-moving-toward-tuesdays-and-wednesdays-and-maybe-fridays-and-saturdays">short-week scenarios</a> where teams don't have enough rest between games and might be at a higher risk of injury.But the TV ratings for past Christmas games were huge.<h2>The NFL put up massive TV numbers on Christmas</h2>The NFL's three Christmas games in 2023 <a target="_blank" href="https://www.usatoday.com/story/sports/2023/12/28/nfl-ratings-dominate-nba-on-christmas/72052196007/">averaged 29.2 million viewers</a>, according to CBS, which broadcasts the game. Those featured some of the most popular teams in the league — <a target="_blank" href="https://www.businessinsider.com/travis-kelce-taylor-swift-brother-christmas-gift-2023-12">and Taylor Swift</a> — including the San Francisco 49ers, New York Giants, Philadelphia Eagles, Las Vegas Raiders, and the eventual Super Bowl champions, Kansas City Chiefs.The 2023 Christmas games were <a target="_blank" href="https://www.sportico.com/business/media/2024/nfl-posts-93-of-top-100-tv-broadcasts-2023-1234761753/">three of the 19 most-watched programs on TV</a> last year, according to Nielsen. However, they still trailed the Turkey Day games as those averaged 33 million viewers and had two of the top seven TV programs of the year.Without knowing yet which teams will be playing in the games and their time slots, it is difficult to predict how big they will compare to last Christmas' and Thanksgiving games, said Jon Lewis, founder of the sports media news and information site Sports Media Watch."I do think viewership should remain elevated, but last year was a particularly good stroke of luck with the matchups," Lewis told Business Insider.<div type="image" title="Fans attend an NBA game in Denver on Christmas in 2023." height="1566" width="2500" msid="109246639" hostid="261" sizebytes="329442"></div>If the NFL is the big winner on Christmas, it will come at the expense of the NBA, which has long been the main annual sports draw on the holiday, with games featuring the best teams and many of the most popular players.However, the NBA games are not nearly as popular in US households on the holidays compared to the NFL, and the gap is widening. In 2023, the five NBA games played on Christmas averaged 2.9 million viewers, <a target="_blank" href="https://www.hollywoodreporter.com/tv/tv-news/nfl-new-years-eve-holiday-2023-24-tv-ratings-1235780558/">according to The Hollywood Reporter</a>. That was down 30% from 2022.<h2>The NFL won't stop at Christmas</h2>With the NFL breaking from the tradition of avoiding Tuesday and Wednesday games, it not only could mean games on Christmas every year, but it could also be the first step in leading to <a target="_blank" href="https://www.nbcsports.com/nfl/profootballtalk/rumor-mill/news/nfl-seems-to-be-moving-toward-tuesdays-and-wednesdays-and-maybe-fridays-and-saturdays">more mid-week games</a>.More mid-week national TV games were an idea the league seemed to start warming up to last year.In March 2023, NFL Commissioner Roger Goodell told the media that short-week games <a target="_blank" href="https://www.nbcsports.com/nfl/profootballtalk/rumor-mill/news/nfl-seems-to-be-moving-toward-tuesdays-and-wednesdays-and-maybe-fridays-and-saturdays">do not lead to more injuries</a>. He referenced the league's success in moving games to non-traditional days due to COVID-19 outbreaks on teams in 2020, including one game that was moved to a Wednesday."My instinct meshes with what Roger Goodell said when he invoked what happened during the pandemic," Mike Florio, <a target="_blank" href="https://www.nbcsports.com/nfl/profootballtalk/rumor-mill/news/nfl-seems-to-be-moving-toward-tuesdays-and-wednesdays-and-maybe-fridays-and-saturdays">NBC's NFL analyst,</a> said on "Pro Football Talk" following Goodell's comments in 2023. "In five to 10 years, they are going to be playing games on Tuesday night and Wednesday night every week."<div type="image" title="NFL fans on Christmas" height="1883" width="2500" msid="109246952" hostid="261" sizebytes="415546"></div>If the NFL schedules more games, it could lead to more income for the league.ESPN, which will air 21 national games in 2024, pays the league <a target="_blank" href="https://frontofficesports.com/espn-paying-for-record-amount-of-primetime-nfl-games-and-cashing-in/">$2.7 billion annually</a>. On the other hand, CBS aired <a target="_blank" href="https://affiliate.insider.com?disabled=1&amp;h=3d84f69b23dfb4fc52c195f14ddae8c591e37bf320b13e3c528ff899e67eedca&amp;postID=66169abfd6bbe8bd161355b3&amp;postSlug=nfl-christmas-day-games-tradition-football-history-thanksgiving-tv-ratings-2024-4&amp;site=bi&amp;u=https%3A%2F%2Fwww.paramountplus.com%2Fshows%2Fnfl-on-cbs%2Fnews%2F1010625%2Fnfl-on-cbs-schedule-how-to-watch-live-football-games%2F%3Fftag%3DPPM-07-10bhe4h%26placement%3D373910525%26creative%3D197380391%26geo%3Dct%253DUS%26st%3DCA%26city%3D15778%26dma%3D208%26zp%3D95746%26bw%3D4%26dclid%3DCL3w-PuEj4EDFeGgjggdTOgFCQ">107 games in 2023</a>, but only six were national TV games. That network pays the NFL <a target="_blank" href="https://www.sportingnews.com/us/nfl/news/nfl-tv-rights-deals-explained/z4rlycwog3jz1f6pqdqoegbxf">$2.1 billion a year</a>.In total, the <a target="_blank" href="https://www.nytimes.com/2021/03/18/sports/football/nfl-tv-contracts.html">NFL is paid about $10 billion a year for TV deals</a> with CBS, NBC, Fox, ESPN, and Amazon.While additional games could lead to more revenue, Lewis is skeptical that the Christmas games will draw bigger audiences than the Thanksgiving matches."I don't see Christmas overtaking Thanksgiving anytime soon, as the latter remains a comfortably bigger draw," Lewis said.

The NFL is starting a new Christmas tradition and it will change how millions of Americans spend the holiday

<ul class="summary-list"><li>Goldman Sachs researchers are projecting oil prices to jump nearly 20% next year.</li><li>They cite continued high demand coupled with a tightening of supply in 2024.</li></ul>As the holiday season approaches, drivers are experiencing a welcome respite at gas stations, but those savings will likely go away in the new year.A new note from <a target="_blank" href="https://www.marketwatch.com/story/opec-will-set-a-80-floor-for-oil-next-year-say-goldman-strategists-c4ec5993">Goldman Sachs oil researchers</a> last week projects that oil prices will jump 18% from their current levels of $78 per barrel to an average of $92 per barrel in 2024, with the reasoning coming down to basic supply and demand. The researchers noted that demand has been strong and will remain so in 2024, but supply is expected to fall next year, especially in non-OPEC producing countries like the US.Last week, West Texas Intermediate crude, a benchmark for <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price?type=wti">oil prices</a>, dipped to approximately $73 per barrel, a significant 20% drop from its late September peak of $94. This decline was mirrored in gas prices, with the national average hovering around $3.30 per gallon, <a target="_blank" href="https://gasprices.aaa.com/">according to AAA</a>, a notable decrease from the near $4 mark in early October.This reduction is expected to have a significant impact on Thanksgiving travel plans. According to a <a target="_blank" href="https://www.gasbuddy.com/go/what-gas-prices-thanksgiving-2023">survey this month by GasBuddy</a>, 41% of respondents are planning road trips for this year's holiday, an 8% increase from 2022. This surge in travel is boosted by the lowering of gas prices, which is expected to save Americans nearly $1.2 billion compared to last year, according to GasBuddy.<h2>Pain at the pump is coming</h2>While lower gas prices will help Americans during the busy — and often costly — holiday seasons, the pain at the pump will likely return as we move into the new year.While the Goldman Sachs researchers said concerns about decreasing demand moving forward have helped push prices lower, they expect demand to remain high in 2024 and possibly increase — <a target="_blank" href="https://www.opec.org/opec_web/en/press_room/7225.htm#:~:text=OPEC%20%3A%20World%20Oil%20Outlook%202023,116%20mb%2Fd%20in%202045">as projected by OPEC.</a>Meanwhile, the researchers project supply from OPEC countries to remain steady or even drop to stay within its target of $80 to $100 per barrel."We think OPEC will be responsive and keep supply lower for longer, and if necessary, cut more," Daan Struyven, head of oil research at Goldman Sachs, said during an interview with <a target="_blank" href="https://www.cnbc.com/squawk-box-us/">CNBC's "Squawk Box."</a><div type="image" title="A 3D-printed oil pump jack in front of the OPEC logo in this illustration picture SOURCE: REUTERS" height="2049" width="3253" msid="105388007" hostid="261" sizebytes="271458"></div>But more importantly, the researchers referred to the increased production seen in non-OPEC countries, including the <a target="_blank" href="https://markets.businessinsider.com/news/commodities/us-oil-production-record-high-brent-crude-price-wti-geopolitics-2023-10">record levels seen in the US</a> this year, as a "one-time boost" to supply due to overcoming post-pandemic supply constraints on things like oil rigs and workers."The big surprise of 2023 is stronger than expected non-OPEC supply growth, which we think will slow heading into 2024," Struyven said.Not helping matters is that <a target="_blank" href="https://markets.businessinsider.com/news/commodities/oil-prices-strategic-petroleum-reserve-joe-biden-inflation-fed-rates-2023-9?_gl=1*s41h44*_ga*NDI4MzQyNzc5LjE2NjYwMzAzOTY.*_ga_E21CV80ZCZ*MTY5NTMwNDAxNy4yMDIuMS4xNjk1MzA1Mzc3LjYwLjAuMA">the US Strategic Petroleum Reserve (SPR) is near a 40-year low</a>. The Biden administration unloaded 180 million barrels last year to help counter the price surge following the Russian invasion of Ukraine. With fewer barrels in reserve — near <a target="_blank" href="https://markets.businessinsider.com/news/commodities/oil-prices-strategic-petroleum-reserve-joe-biden-inflation-fed-rates-2023-9?_gl=1*s41h44*_ga*NDI4MzQyNzc5LjE2NjYwMzAzOTY.*_ga_E21CV80ZCZ*MTY5NTMwNDAxNy4yMDIuMS4xNjk1MzA1Mzc3LjYwLjAuMA">40-year lows</a> of about 350 million and about half the peak seen in the early 2010s — there's now less oil that the US can release into the economy and help increase supply and thus lower prices.<div type="image" title="Strategic Petroleum Reserve" height="647" width="970" msid="105388013" hostid="261" sizebytes="17904"></div>Now, <a target="_blank" href="https://markets.businessinsider.com/news/commodities/oil-prices-strategic-petroleum-reserve-joe-biden-inflation-fed-rates-2023-9?_gl=1*s41h44*_ga*NDI4MzQyNzc5LjE2NjYwMzAzOTY.*_ga_E21CV80ZCZ*MTY5NTMwNDAxNy4yMDIuMS4xNjk1MzA1Mzc3LjYwLjAuMA">the US wants to refill the Strategic Petroleum Reserve</a>, and if the US fills the reserve too quickly, it will have a big impact on lowering the available oil supply and <a target="_blank" href="https://www.foxnews.com/politics/how-strategic-petroleum-reserve-impacts-oil-gas-prices-special-report-spotlight-energy-matters">prices will likely go up even higher</a>.Interestingly, the disruption in supply has not been seen this year in the areas where many had expected — the Ukraine war and Israel's war with Hamas."One of the remarkable features this year is that the level of supply disruption has been remarkably low despite the fact that we are living in a highly uncertain geopolitical backdrop," Struyven said.Of course, not everybody is projecting a drop in supply. David Kelly, the chief global strategist for JP Morgan Asset Management, thinks supply from the US will actually increase next year."We're currently producing more crude oil than either Russia or Saudi Arabia," <a target="_blank" rel="noopener noreferrer" class="notion-link-token notion-focusable-token notion-enable-hover" href="https://www.cnn.com/2023/09/18/investing/premarket-stocks-trading/index.html">Kelly said on CNN's "Before the Bell"</a> in September. "This is going to be a record year for US liquid-fuel production, and next year is going to be even stronger. The global economy is growing slowly, and that's going to limit demand growth for fossil-fuel energy. And frankly, the green-energy transition is also limiting the growth in demand."What Americans pay at the pump is always at the forefront of their economic considerations, as it often determines how much money they have to spend elsewhere. And what the <a target="_blank" href="https://www.businessinsider.com/israel-gaza-war-oil-prices-inflation-recession-outlook-2023-10">US economy</a> doesn't need in the near future is Americans tightening their budgets after their <a target="_blank" rel="noopener noreferrer" class="notion-link-token notion-focusable-token notion-enable-hover" href="https://www.businessinsider.com/taylor-swift-eras-tour-helped-us-economy-2023-9">summer of fun</a> and the holiday spending season.

The money you are saving at the pump this holiday season is probably only temporary

<ul class="summary-list"><li>Holiday markets are mini examples of the ideal city.</li><li>Patrons enjoy shopping, activities, and socializing — all in a walkable space.</li></ul>The hottest spot in town this time of year is the holiday market.People all over the country are flocking to the temporary stalls and cottages to get their mulled wine, seasonal treats, and artisan crafts. Live music, light shows, and bustling, car-free paths transform many downtowns into Hallmark-style holiday villages.The <a target="_blank" href="https://www.marketplace.org/2022/12/22/the-economics-of-holiday-markets-explained/">growing popularity</a> of public markets — one of the most ancient forms of urbanism — is a reminder that people thrive in walkable cities with mixed-use development."People love when a lot of interesting, fun, delicious, and beautiful things are concentrated in the same place that we can easily navigate on foot," said Tayana Panova, a researcher who studies the built environment in <a target="_blank" href="https://www.tiktok.com/@dr.tpanova/video/7180332903493209390">a TikTok video</a>. "It's human nature to like places like this because they're stimulating and entertaining, and they draw in a lot of people, which we as social creatures also love to be around."Holiday markets also bring people outside during some of the coldest, darkest weeks of the year when downtown streets are emptier, and people are more isolated at home. They can be a great way <a target="_blank" href="https://www.businessinsider.com/economy-new-york-city-edmonton-winter-cities-fight-loneliness-2023-12">to fight loneliness and seasonal depression</a> while revitalizing struggling urban centers.Cities should ideally bring people together to meet, collaborate, exchange goods and services, and live and work affordably and in harmony. Public holiday markets offer a microcosm of a functional, vibrant downtown with a healthy dose of good cheer. As <a target="_blank" href="https://www.businessinsider.com/retail-apocalypse-means-80000-store-closures-next-5-years-2021-4">malls</a>, <a target="_blank" href="https://www.businessinsider.com/commercial-real-estate-crash-work-from-home-us-offices-outlook-2023-12">offices</a>, and <a target="_blank" href="https://www.businessinsider.com/loneliness-epidemic-decline-in-third-places-friends-parks-community-2023-9">affordable third places</a> continue their decline and people increasingly work, communicate, and play online, we're even more in need of dense, walkable, mixed-use urbanism to bring us together. Holiday markets, farmers' markets, makers' markets, and other fairs and festivals are also a boon to local economies. Much research has found that <a target="_blank" href="https://www.businessinsider.com/open-streets-new-york-city-increased-spending-businesses-fifth-avenue-2023-10">walkable</a>, bikeable, and car-light places are <a target="_blank" href="https://www.businessinsider.com/downtowns-cities-holiday-shopping-eliminating-street-parking-spots-boosts-retail-2023-10">better for business</a> than car-dominated environments. People are likelier to stop and buy something in a friendly, inviting, and navigable place.Small businesses and artisans use these markets to supercharge their <a target="_blank" href="https://www.marketplace.org/2022/12/22/the-economics-of-holiday-markets-explained/">busiest weeks of the year</a>. The markets can act as an incubator, allowing sellers who don't yet have storefronts to test out their products, grow their customer base, and eventually scale their businesses.Public markets, thanks mostly to <a target="_blank" href="https://www.ers.usda.gov/data-products/chart-gallery/gallery/chart-detail/?chartId=104402">a surge in new farmers' markets</a>, are increasingly popular in the US. But holiday markets are still overlooked by many cities and towns, according to Ilana Preuss, the CEO of the consultancy Recast City and the author of <a target="_blank" class="Link" href="https://affiliate.insider.com?h=4fda96f51f4c879fef42b1df0f6193107ffd14aa057aff2802ca18fc9cf2f6e6&amp;postID=65831c34c20aecbe8fd6b5f7&amp;postSlug=holiday-markets-economic-social-benefits-mixed-use-development-walkable-cities-2023-12&amp;site=bi&amp;u=https%3A%2F%2Fwww.amazon.com%2FRecast-Your-City-Small-Scale-Manufacturing%2Fdp%2F1642831921">"Recast Your City: How to Save Your Downtown with Small-Scale Manufacturing."</a>"In my experience working with dozens of smaller cities and counties across the nation, I have found that holiday markets and farmers' markets are not typically part of the local economic development strategy," Preuss wrote <a target="_blank" href="https://www.governing.com/community/your-holiday-market-its-an-opportunity-to-revive-downtown">in Governing</a>. "They are instead looked upon merely as fun occasions to brighten placemaking — one-off events not connected to local business development training, capital opportunities or retail space leasing."But some elected officials know how beneficial holiday markets can be to local businesses and the health of their cities and towns. Rep. Elissa Slotkin, a Democrat from Michigan who's also running to represent her state in the US Senate, promoted downtown Detroit's holiday market on social media earlier this month. Some cities, including in Slotkin's home state, have embraced permanent public markets beyond farmers' markets. Panova points out in her video that <a target="_blank" href="https://www.muskegonwesternmarket.com/">Muskegon, Michigan,</a> and <a target="_blank" href="https://www.berwynshops.com/">Berwyn, Illinois,</a> have built year-round markets with simple structures resembling small cottages to house local businesses on vacant lots. The shopping districts are examples of how American downtowns can become more inviting and human-scale as they reinvent themselves in an age of remote work.

Hallmark-style holiday markets are tiny examples of how much better our cities could be

<ul class="summary-list"><li>Consumers won't rescue the US economy in 2024.</li><li>That's because shoppers can't keep up their frenzied pace of spending forever, Wells Fargo warned.</li></ul>American consumers won't be able to prop up the US economy forever, and their wild spending spree over the holiday season was likely a "last hurrah," according to Wells Fargo.Retail sales came in hotter-than-expected in December, rising 5.6% year-over-year. That shows consumers have than kept up with the pace of inflation but it's unlikely to last, the bank said, given the weakening economic picture.Small firms are likely already preparing for a slowdown, with <a href="https://www.nfib.com/surveys/small-business-economic-trends/" target="_blank" rel="noopener">small business optimism</a> registering below its 50-year average for the 24th month in a row in December, according to the National Federation of Independent Business. That's a warning sign that businesses could soon start slashing inventory, for fear of being caught with too much product by the time the economy starts to meaningfully slow.The job market also looks poised to keep softening, especially if the Fed chooses to keep interest rates higher-for-longer. The unemployment rate ticked higher for most of 2023, finishing off the year at 3.7%. Higher unemployment could <a href="https://markets.businessinsider.com/news/bonds/recession-indicators-stock-market-outlook-yield-curve-sahm-jobless-rate-2023-11">trigger a classic recession indicator</a> – and it could easily influence Americans to pull back on their discretionary spending.Some consumers already look to be in a precarious financial situation as they <a href="https://www.businessinsider.com/us-households-on-brink-household-savings-dry-up-september-fed-2023-9">draw down their excess savings</a> from the pandemic. The percentage of credit card balances that were at least 30 days late ticked higher to 3.2% – the <a href="https://www.businessinsider.com/economy-outlook-credit-card-deliquencies-decade-federal-reserve-markets-household-2024-1">highest rate of delinquency seen in 10 years</a>, according to the Philadelphia Fed."Americans with jobs and money in their pockets are going to spend. However, as the economy slows as we move through the middle portion of this year and the labor market softens, we continue to believe the holiday spending that occurred last year was a bit of a last hurrah for the consumer," Wells Fargo senior global market strategist Scott Wren said in a note on Wednesday."We do not believe that good holiday sales mean the spending strength will continue into and through the middle of this year." Strong consumer spending is believed to have propped up growth for much of 2023 as the Fed aggressively raised interest <a href="https://www.businessinsider.com/economy-consumer-spending-credit-card-debt-delinquencies-retail-hiring-2023-11">rates to control inflation. A pullback in consumer spending could easily spark a consumer</a>-led slowdown, Macquarie warned in a recent note, which would push the US close to a recession. Wells Fargo is forecasting the economy to slow "noticeably" in mid-2024. Others on Wall Street still see the opposite, with <a href="https://www.businessinsider.com/recession-forecast-indicators-economic-outlook-soft-landing-fed-rate-cuts-2024-1">the prospect of a soft-landing</a> becoming more of a consensus view as the expectations rise for the Fed to turn dovish and start cutting interest rates this year.

American consumers won't save the economy in 2024 and their wild holiday spending spree was a 'last hurrah', Wells Fargo says

<ul><li>Food basket inflation was at 9.53% in December 2023, up from 8.7% in November.</li><li>The core inflation stood at 3.8%, moderating from 4.% in November.</li><li>India's industrial growth rate slumped to an 8-month low of 2.4% in November. </li></ul>Retail inflation inched up marginally to a four-month high of 5.69% in December 2023, mainly on account of higher food prices, according to official data released on Friday. The inflation based on Consumer Price Index (CPI) was at 5.55% in November 2023 and 5.72% in December 2022. In August 2023, inflation touched a high of 6.83%. As per the data released by the <keyword id="20070866" type="General" weightage="20" keywordseo="national-statistical-office" source="keywords">National Statistical Office</keyword> (NSO), retail inflation in the food basket was at 9.53% in December 2023, up from 8.7% in the preceding month and 4.9% in the year-ago month. “While persistent rise in the food prices contributed to an uptick in inflation in December 2023, the core inflation has continued to moderate indicating signs of easing price pressure for the households. A continual moderation in inflation is supportive of growth in the consumption driven sectors, said <keyword id="20169700" type="General" weightage="20" keywordseo="vivek-rathi" source="keywords">Vivek Rathi</keyword>, national director of research at Knight Frank India. The core inflation stood at 3.8%, moderating from 4.% in November. As per RBI’s forecast, FY24 inflation would be at 5.4%. The softer numbers that came in December could undershoot the numbers marginally,” said <keyword id="20169699" type="General" weightage="20" keywordseo="upasna-bhardwaj" source="keywords">Upasna Bhardwaj</keyword>, chief economist at Kotak Mahindra Bank. Experts expect RBI to keep its keep repo rate and policy stance unchanged in the February policy. The <keyword id="19899810" type="General" weightage="20" keywordseo="reserve-bank-of-india" source="keywords">Reserve Bank of India</keyword> (RBI) has been focussed on bringing retail inflation under 4% which is its target. “We expect the RBI to allow liquidity conditions to ease in the coming months to let the operating target rate soften towards the repo rate before shifting stance— a move which is likely in 1QFY25,” said Bharadwaj. Manufacturing drags November industrial growth to 2.4% India's industrial growth rate slumped to an 8-month low of 2.4% in November from a 16-month high of 11.6% in October, data released by the Ministry of Statistics and Programme Implementation on Friday showed. In November 2022, the country’s industrial production had grown by 7.6%. The growth rate for November was dragged down by the manufacturing sector, which slowed to a crawl of 1.2 per cent on a year-on-year basis after having posted an increase of 10.2 per cent in October. The sharp slowdown in manufacturing output growth, which accounts for more than three-fourths of the index of industrial production (IIP), was partly attributed to the large number of holidays in November on account of festivals due to which the working declined. The IIP figure has been pulled down by the manufacturing sector which posted the lowest annualised growth of 1.2% in 13 months after a solid momentum in the early part of the fiscal. While moderation in industrial activity is typically seen in the post-festive season, this may also be an indication of an expectation of demand slowdown in the last quarter of the fiscal, he added. The electricity generation also grew at a slower pace of 5.8% as compared to a high double digit growth of 20.4% in October. Similarly, the mining output growth declined to 6.8% from 13.1% in October. “Industrial output for Nov-23 has disappointed even factoring in the impact of the festival holidays during the month and the adverse base factor. IIP has recorded a modest growth of 2.4% YoY, the lowest print in eight months since March 2023," said Suman Chowdhury, chief economist &amp; head of research of Acuite Ratings &amp; Research. There has also been a contraction in both consumer durables and non-durables output in Nov-23, leading to an overall contraction of 4.2 per cent YoY in the consumer goods sector. “The growth indicators from the industrial production print however seem to be uneven. Output from most of the key industries have witnessed moderate growth, however, due to a high statistical base. However, the consumer durable output, which is consumption reflection, contracted by 5.4%. This can be concerning as sustained consumption growth is the key to keep the economic growth momentum continuing,” said Rathi. (With inputs from PTI &amp; IANS)

Retail inflation inches to 4-month high in Dec; IIP growth slips to 8-month low in Nov

<ul class="summary-list"><li>Retailers incur $166 million in returns for every $1 billion in sales, NRF survey finds.</li><li>Nearly half of Americans believe 'wardrobing' should be a 'serious illegal offense,' a new survey found.</li></ul>As holiday shopping ramps up, retailers are preparing for the aftermath of gift-giving – returns.For some retailers, this means relaxing return policies to give customers more time to return an item while others are tightening rules to charge customers for returning products.<a href="https://talker.news/2022/09/21/forty-six-percent-of-americans-think-that-buying-and-returning-worn-clothes-should-be-considered-fraud/?utm_campaign=Forter%20-%20Is%20it%20fraud&amp;utm_medium=email&amp;_hsmi=226844743&amp;_hsenc=p2ANqtz-_G56cSZ1Z9YdEezVCN8rCzT0TZIK24NgyG8jPEFYNmIBXJm3DYog4w34G9nysV6Rgz0NBNa5evJ0Y5JS2XQ-kMAXKkTw&amp;utm_content=226845895&amp;utm_source=hs_email">In a September study of 2,000 adults,</a> market research company OnePoll found that 46% of survey respondents believed the practice of returning clothes after you've worn them — or "wardrobing" — should be considered a<a href="https://talker.news/2022/09/21/forty-six-percent-of-americans-think-that-buying-and-returning-worn-clothes-should-be-considered-fraud/?utm_campaign=Forter%20-%20Is%20it%20fraud&amp;utm_medium=email&amp;_hsmi=226844743&amp;_hsenc=p2ANqtz-_G56cSZ1Z9YdEezVCN8rCzT0TZIK24NgyG8jPEFYNmIBXJm3DYog4w34G9nysV6Rgz0NBNa5evJ0Y5JS2XQ-kMAXKkTw&amp;utm_content=226845895&amp;utm_source=hs_email"> "serious illegal offense."</a>Wardrobing may seem like a harmless way to recoup some quick cash, but<a href="https://www.cnbc.com/2019/01/10/growing-online-sales-means-more-returns-and-trash-for-landfills.html"> research shows</a> that less than half of all returned goods can be resold by companies at full-price. According to a 2021 study by the<a href="https://nrf.com/research/customer-returns-retail-industry"> National Retail Federation,</a> acts of return fraud like wardrobing amount to $12.6 billion in lost sales for retailers. To combat this offense, shoppers of brands Zara, H&amp;M, J. Crew, and Kohl's should expect to pay up if they want to return their clothes, <a href="https://www.foxbusiness.com/lifestyle/holiday-return-policies-what-to-know">Fox Business reports</a>.In September, H&amp;M announced it would be testing return fees in its Norway stores while J. Crew already has implemented its $7.50 flat fee for online returns, according to the Fox report.For Zara, a $3.95 fee should be expected if a customer chooses not to return items in person. Similarly, Abercrombie &amp; Fitch charges $7 in the same instance.According to the Fox report, Walmart has relaxed its return policies as holiday shopping gets underway. Certain purchases made on or after October 1 are eligible for return up until January 2023.In a <a href="https://nrf.com/media-center/press-releases/nrf-predicts-healthy-holiday-sales-consumers-navigate-economic">November press release,</a> the NRF predicted that holiday shopping during November and December will grow between 6% and 8% over 2021 to between $942.6 billion and $960.4 billion.<a href="https://nrf.com/research/customer-returns-retail-industry-2021">According to an NRF survey</a>, retailers incur $166 million in merchandise returns for every $1 billion in sales and lose over $10 to return fraud for every $100 of returned merchandise accepted.Although a looming recession fuels the possibility of returns and wardrobing, NRF President and CEO Matthew Shay says Americans will find a way to shop this season."In the face of these challenges, many households will supplement spending with savings and credit to provide a cushion and result in a positive holiday season," Shay said in the release.

Retailers are gearing up for the holiday shopping season as more gift-giving and holiday parties mean more returns

<ul class="summary-list"><li>Brittney Griner will stand for the national anthem during the 2023 WNBA season, her agent says.</li><li>The star wants to highlight the "uniquely American freedoms" she lost while in Russian detainment.</li></ul>Brittney Griner lost everything — and was "stripped of her essential American freedoms" — during the 10 months she spent detained in Russia in 2022.And now that she's home and back to playing the sport she loves, the WNBA superstar has opted to stand for the national anthem throughout the 2023 season. Her agent Lindsay Kagawa Colas penned <a href="https://time.com/6281073/brittney-griner-national-anthem-stand/">an essay for Time magazine, published Friday, </a>where she explained the reasoning behind Griner's choice "to stand up — physically for the anthem itself and symbolically for the rights of their peers to make themselves heard and express dissent loudly and boldly."<div type="image" title="Brittney Griner." height="1666" width="2222" msid="100402924" hostid="261"></div>"Having been put in a literal cage, too small for her frame, stripped of her essential American freedoms, and deprived of even her most basic rights during a sham trial and unjust sentencing, Brittney, supported by many other players, will make a statement this WNBA season by standing tall for those uniquely American freedoms — the most important of which being the absolute and inviolable and constitutionally protected freedom to stand, sit, kneel, praise, protest, and otherwise make your voice heard," Colas wrote.The perennial WNBA All-Star spent 294 days in Russian custody — and, for some time, at <a href="https://www.insider.com/brittney-griner-russian-penal-colony-inhumane-conditions-treatment-2022-10">a penal colony</a> — after her arrest and subsequent conviction on drugs charges. The <a href="https://www.insider.com/brittney-griner-great-impression-us-government-officials-roger-carstens-2022-12">US government</a> deemed her <a href="https://www.insider.com/brittney-griner-russia-what-status-change-wrongfully-detained-means-2022-5">wrongfully detained</a> several months after her initial arrest, and thanks to a <a href="https://www.insider.com/brittney-griner-freed-prisoner-exchange-russia-united-states-2022-8">prisoner exchange between the White House and Moscow</a>, Griner returned home in time for the 2022 holidays.Though those closest to the 6-foot-9 superstar said she <a href="https://www.insider.com/brittney-griner-potential-basketball-return-healing-wnba-star-2022-12">deserves "however long she needs to heal" before basketball re-enters the conversation</a>, she almost immediately confirmed her intention to <a href="https://www.insider.com/brittney-griner-wnba-return-pay-cut-phoenix-mercury-2023-2">return for the 2023 WNBA season</a>. Five months later, she made her WNBA re-debut as her Phoenix Mercury took on the Los Angeles Sparks on the road Friday night.<div type="image" title="Brittney Griner against the Los Angeles Sparks in her 2023 WNBA debut." height="1821" width="2428" msid="100402925" hostid="261"></div>In past years, Griner has advocated against playing the national anthem ahead of sporting events. She joined several WNBA peers by <a href="https://www.azcentral.com/story/sports/wnba/mercury/2020/07/27/mercurys-brittney-griner-will-not-be-on-court-for-national-anthem-this-season/5518399002/">remaining in the locker room</a> for pregame festivities during the 2021 season.But with none other than Vice President Kamala Harris — who was pivotal in the fight to bring the Mercury star back stateside — in attendance for her re-debut, Griner stood as "The Star-Spangled Banner" blared through Crypto.com Arena."One good thing about this country is you have the right to protest," Griner said after scoring 18 points against the Sparks during a postgame press conference on Friday night. "What I went through with everything — it just means a little bit more to me now, so I want to be able to stand. I was literally in a cage and could not stand the way I wanted to... Just being able to hear my national anthem, see my flag, I definitely want to stand.""Anyone that will not stand, will not come out; I totally support them 100%," she added.

You Searched For "national holidays in 2023" and got 7 results

The NFL is starting a new Christmas tradition and it will change how millions of Americans spend the holiday

Cork Gaines

The money you are saving at the pump this holiday season is probably only temporary

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Hallmark-style holiday markets are tiny examples of how much better our cities could be

Eliza Relman

American consumers won't save the economy in 2024 and their wild holiday spending spree was a 'last hurrah', Wells Fargo says

Jennifer Sor

Retail inflation inches to 4-month high in Dec; IIP growth slips to 8-month low in Nov

BI India Bureau

Retailers are gearing up for the holiday shopping season as more gift-giving and holiday parties mean more returns

Jordan Hart

Brittney Griner is standing for the national anthem and the 'uniquely American freedoms' it represents during the WNBA season

Meredith Cash

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