NRF Predicts Minimal Drop in Holiday Sales
By Staff -- Gifts and Dec, 10/6/2009 2:05:00 PM
Washington, DC – The National Retail Federation released its 2009 holiday forecast, projecting retail industry holiday sales to decline one percent this year to $437.6 billion.
While this falls well short of the ten-year average of 3.39 percent growth, the decline represents an improvement compared to last year’s 3.4 percent drop in holiday retail sales and the 3 percent decline in annual retail industry sales expected for the full year 2009.
“As the global economy continues to recover from the worst economic crisis most retailers have ever seen, Americans will focus primarily on practical gifts and shop on a budget this holiday season,” said NRF chief economist Rosalind Wells.
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