Forecasts Point to Modest Holiday Growth
New York – Retailers just got an early Christmas gift: Americans are expected to spend more than they did last year during the holidays.
Retail revenue in November and December is expected to be up 3 percent during what is traditionally the biggest shopping period of the year, according to research firm ShopperTrak said Tuesday.
The sales prediction, which matches the outlook from the International Council of Shopping Centers on Friday, would be below last year’s 4.1 percent spike – and the 5-plus percent gains during boom economic times. But it’s still above the 2.6 percent average gain over the last 10 years and is considered respectable growth given the down economy.
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