The National Retail Federation expects November and December sales to jump 3.6%.
That excludes autos, gas and restaurant sales.
Nationally that amounts to $655.8 billion, significantly …
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The National Retail Federation expects November and December sales to jump 3.6%.
That excludes autos, gas and restaurant sales.
Nationally that amounts to $655.8 billion, significantly higher than the 10-year average of 2.5% and above the 7-year average of 3.4%.
NRF is forecasting non-store sales to increase between 7% and 10% to as much as $117 billion.
“All of the fundamentals are in a good place, giving strength to consumers and leading us to believe that this will be a very positive holiday season,” NRF President and CEO Matthew Shay said.
“This year hasn’t been perfect, starting with a long summer and unseasonably warm fall, but our forecast reflects the very realistic steady momentum of the economy and industry expectations.”
Economist Jack Kleinhenz said, “Consumers have seen steady job and income gains throughout the year, resulting in continued confidence and greater use of credit.”
Retailers are expected to hire between 640,000 and 690,000 seasonal workers this holiday season, in line with last year’s 675,300 holiday jobs.
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