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NRF: Holiday forecast upgraded to 3.8% rise
WASHINGTON, D.C. -- The National Retail Federation said Thursday that it has upwardly revised its holiday forecast, now expecting holiday sales to rise 3.8% this year to a record $469.1 billion.
NRF’s initial forecast, announced on October 6, called for anticipated sales growth of 2.8%. While a 3.8% sales increase is considerably above the 10-year average sales increase of 2.6%, it is still lower than the 5.2% increase the retail industry saw last year, said NRF.