Subdued Holidays
The National Retail Federation is predicting that retail sales during the holidays will increase only 5 percent over last year. Spending should total $457.4 billion this season. In 2005, Holiday spending grew 6.1 percent over 2004 to $435.9 billion. “Consumers have faced a number of economic challenges this year and have taken them in stride,” said NRF Chief Economist Rosalind Wells. “Although sales gains will not be as robust as last year, retailers can still expect above-average holiday sales growth.”
