JOC Staff | Oct 02, 2012 4:13PM EDT
Retail sales in November and December should increase 4.1 percent to $586.1 billion, which is higher than the 10-year average of 3.5 percent, according to the National Retail Federation. Actual holiday sales in 2011 grew 5.6 percent, based on data from the U.S. Department of Commerce, but this is the most optimistic forecast that NRF has released since the recession.
NRF President and CEO Matthew Shay said that this positive evaluation will mean solid holiday sales growth this season, despite consumer anxiety regarding the state of the economy.
