NRF Predicts 2.8 Percent Increase in Holiday Sales
The National Retail Federation Thursday forecast an increase of 2.8 percent in holiday sales this year, to $465.6 billion.
The group did not break down its forecast by industry.
"Retailers are optimistic that a combination of strong promotions and lean inventory levels will help them address consumer caution this holiday season," NRF President and CEO Matthew Shay said as part of the announcement. "While businesses remain concerned over the viability of the economic recovery, there is no doubt that the retail industry is in a better position this year to handle consumer uncertainty than it was in 2008 and 2009."