The National Retail Federation (NRF), the nation’s largest retail trade group, forecasts that holiday sales will rise between 3.8% and 4.2% even as uncertainty looms over an escalating trade war with China. The holiday sales forecast, announced Thursday, marks an increase from the disappointing 2.1% growth seen in the November and December 2018 period that came well short of the group’s prediction.
Last year’s holiday sales were hurt by turmoil over U.S. trade policy with China and a delay in data collection by nearly a month because of a government shutdown. This year’s holiday forecast is above the average holiday sales growth of 3.7% over the previous five years. The group expects online and other non-store sales, which are included in the total, to increase between 11% and 14%, for the holiday period.
“The US economy is continuing to grow:” The predictions come as the economy and the job market are still strong. But US factory activity shrunk for the second straight month in September and reached a 10-year low, renewing fears of a recession and triggering a broad… Herald-Mail Media