National Retail Federation Forecasts Holiday Sales to Increase 3.6%

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The National Retail Federation announced today it expects sales
in November and December, excluding autos, gas and restaurant sales,
to increase a solid 3.6 percent to $655.8 billion
significantly higher than the 10-year average of 2.5 percent and
above the seven-year average of 3.4 percent since recovery began in
2009. Additionally, NRF is forecasting non-store sales to increase
between 7 and 10 percent 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.”

“We remain optimistic that the pace of economic activity will pick up in
the near term,” continued Shay.

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