2020, the most unusual economic environment!
Pandemic Made Holiday Forecast challenged the most! NRF Chief Economist Says Pandemic Made This Year’s Holiday Forecast the Most Challenging Ever! With the coronavirus pandemic presenting unique circumstances for the nation’s economy, forecasting retail holiday sales this year was more challenging than ever before, National Retail Federation Chief Economist Jack Kleinhenz said today. “There is no doubt this is the most unusual economic environment in our lifetimes,” Kleinhenz said. “I cannot think of a period with so many simultaneous factors hitting the economy at once when formulating this forecast.” NRF usually releases its annual holiday forecast in early October but waited until November 23 this year in order to see additional economic data and “put carefulness and caution ahead of speed,” Kleinhenz said. “This is a year when it is particularly important to recognize known risks, understand unusual factors and attempt to reduce oversights when making predictions,” he