U.S. holiday sales will increase between 4.3% and 4.8% this year, aided by a boost from a strong economy, according to a forecast from The National Retail Federation.
The latest forecast compares with an average annual increase of 3.9% over the past five years, Reuters reports.
The retail trade group expects sales to be between $717.45 billion and $720.89 billion—excluding autos, gasoline and dining out—for the last two months of the year.
Advertisement
NRF’s forecast is one of the most closely watched benchmarks ahead of the holiday season, when retailers like Macy’s, Walmart and Target generate an outsized portion of their profits and sales.
