Shoppers Expected to Spend $1.1T at US Retailers This Holiday Season

US retailers are on track for a big holiday, according to an annual survey from Deloitte. The consultancy firm sees US retail sales surging between 4.5 percent and 5 percent during the November to January timeframe as retailers rake in $1.1 trillion in sales. Last holiday season, retail sales rose 3.1 percent on $1.09 trillion of sales, according to the Census Bureau.

“The projected holiday season growth is, in part, due to the current health of the labor market,” said Daniel Bachman, Deloitte’s US economic forecaster. “Near record-low unemployment rates, coupled with continued monthly job creation, may encourage people to spend more during the holiday season. The economy is still growing, albeit at a slower rate. Additionally, we continue to see consumer confidence elevated, which also helps boost…” Fox Business

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