MINNEAPOLIS (WCCO) — The National Retail Federation expects holiday sales in November and December to increase from 2017 to more than 4 percent.
“Our forecast reflects the overall strength of the industry,” NRF President and CEO Matthew Shay said. “Thanks to a healthy economy and strong consumer confidence, we believe that this holiday season will continue to reflect the growth we’ve seen over the past year.”READ MORE: Cyclist Struck By Motorist Near Carver Dies From Injuries; Investigation Ongoing
The prediction of a 4.3- to 4.8-percent increase from 2017 is in comparison to the average annual increase of 3.9 percent.READ MORE: Reps. Omar, Ocasio-Cortez And Other Lawmakers Call On DHS To Drop Visa Sanctions Enacted By Trump
Although Shay says people have been concerned over an escalating trade war, NRF is optimistic.
“We are optimistic that the pace of economic activity will continue to increase through the end of the year,” Shay said.MORE NEWS: 6 Tribes Sue Wisconsin In Attempt To Stop November Wolf Hunt
Holiday sales totaled $687.87 billion in 2017.