NRF ups holiday spending forecast
“The start to the holiday season has surpassed all expectations,” said NRF president and CEO Matthew Shay. “While employment data is still a concern, we are starting to see improvement in other economic indicators that support an increase to our forecast.”
November retail sales released today by the U.S. Commerce Department showed a 0.8% boost over October’s numbers, the NRF pointed out. Solid gains across the board indicate some pent up demand as consumers stocked up on items such as apparel, accessories and books and music.