Gain Seen in Holiday Sales
The National Retail Federation Wednesday forecasted that holiday retail sales will rise 2.3 percent to $447.1 billion, the largest increase since 2006.
“While many consumers will be wishing for apparel and electronics this holiday season, retailers are hoping the holidays bring sustainable economic growth,” NRF President and CEO Matthew Shay said as part of the announcement. “Though the retail industry is on stronger footing than last year, companies are closely watching key economic indicators like employment and consumer confidence before getting too optimistic that the recession is behind them.”
NRF, in a separate forecast, said this week that electronics sales rose 4.7 percent in September. The Consumer Electronics Association will release its holiday sales forecast next month.