CEA Cuts Holiday Forecast
The Consumer Electronics Association Thursday revised its forecast for the holiday season. CEA reduced its projection for fourth quarter wholesale shipment revenues to an increase of just .1 percent, down from the earlier forecast of 3.5 percent.
The change, CEA said, was based on new data, both from October monthly numbers and its own surveys of shoppers, on the phone and in-store, before, during and after Black Friday. The group's economist, Shawn DuBravac, and its senior director of research, Tim Herbert, hosted an hourlong Web cast Thursday to discuss the Black Friday numbers and other holiday issues.
Among highlights of the Web cast: