RAPAPORT... U.S. sales in the upcoming holiday season will increase amid an improvement in jobs and income and stronger consumer sentiment, the National Retail Federation (NRF) forecast.
Revenue is expected to rise 3.6 percent to $655.8 billion year on year in November and December, beating the 10-year growth average of 2.5 percent, the NRF said.
“Consumers have seen steady job and income gains throughout the year, resulting in continued confidence and the greater use of credit, which bodes well for more spending throughout the holiday season,” said Jack Kleinhenz, the NRF’s chief economist.
The forecast is based on indicators including consumer credit, disposable personal income and previous monthly retail sales releases.
|
|
|
|
|