...n’joy exporters! Holiday sales to grow over 4% YoY
NRF Forecasts holiday sales rocks! The National Retail Federation (NRF) announced that it expects holiday retail sales in November and December – excluding automobiles, gasoline and restaurants – to increase between 4.3 and 4.8 percent over 2017 for a total of $717.45 billion to $720.89 billion. The forecast compares with an average annual increase of 3.9 percent over the past five years. “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. While there is concern about the impacts of an escalating trade war, we are optimistic that the pace of economic activity will continue to increase through the end of the year.” Holiday sales in 2017 totalled $687.87 billion, a 5.3 percent increase over the year before and the largest increase since the 5.2 percent year