The National Retail Federation revised its holiday sales forecast to a 3.3
percent jump, up from 2.3 percent.
The upward revision is because of improvement in a variety of economic
indicators, including stock market gains, recent income growth, savings built
up during the recession—all giving consumers the capacity to spend.
According to the NRF, November retail industry sales (which exclude
automobiles, gas stations, and restaurants) increased 0.8 percent seasonally
adjusted over October, and 6.8 percent unadjusted over last year.
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