New York—It’s that time of the year again. (No, not Columbus Day Holiday). Now is the time that economists, analysts and online soothsayers predict how strong—or weak—Christmas sales will be this year.
So far the average is about a 4% increase. The National Retail Federation forecast this week that November/December sales (excluding autos, gas and restaurant sales) will rise “a healthy 4.1% to $616.9 billion, higher than 2013’s actual 3.1% increase during that same time frame.
“Holiday sales on average have grown 2.9% over the past 10 years, including 2014’s estimates, and are expected to represent approximately 19.2% of the retail industry’s annual sales of $3.2 trillion,” NRF added.
Additional forecasts are expected this week. Despite what has been called “modest” forecast, the increase is on the brink of being one of the biggest in years. That is if the weather cooperates, the Mideast conflicts don’t spread, gas prices don’t rise and unemployment continued to edge down.
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