26 May 2019
DiamondWorld Directory
Home |
News
Home
NRF Forecasts Holiday Sales Will Increase Between 4.3 and 4.8 Per cent
The holiday forecast is consistent with NRF’s forecast that annual retail sales for 2018 will increase at least 4.5 per cent over 2017.
By: Diamond World News Service
|
Oct 16 2018 10:09AM
|
Reference: 16722  

DecreaseIncrease

The National Retail Federation recently announced that it expects holiday retail sales in November and December – excluding automobiles, gasoline and restaurants – to increase between 4.3 and 4.8 per cent over 2017 for a total of $717.45 billion to $720.89 billion. The forecast compares with an average annual increase of 3.9 per cent 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 totaled $687.87 billion, a 5.3 per cent increase over the year before and the largest increase since the 5.2 per cent Y-O-Y gain seen in 2010 after the end of the Great Recession.

“Last year’s strong results were thanks to growing wages, stronger employment and higher confidence, complemented by anticipation of tax cuts that led consumers to spend more than expected,” NRF Chief Economist Jack Kleinhenz said. “With this year’s forecast, we continue to see strong momentum from consumers as they do the heavy lifting in supporting our economy. The combination of increased job creation, improved wages, tamed inflation and an increase in net worth all provide the capacity and the confidence to spend.”

The holiday forecast is consistent with NRF’s forecast that annual retail sales for 2018 will increase at least 4.5 per cent over 2017.

NRF’s holiday forecast is based on an economic model using several indicators including consumer credit, disposable personal income and previous monthly retail sales. The number includes online and other non-store sales. For historic sales information visit NRF’s Holiday Headquarters.

NRF Forecasts Seasonal Employment to Grow Between 585,000 and 650,000

Even with the increasingly tight labor market, retailers have been preparing for their busiest season of the year by hiring extra staff to help meet the demand expected during November and December. As part of its forecast, NRF expects retailers to hire between 585,000 and 650,000 temporary workers this holiday season, up from last year’s 582,500.

Have Your Say
* Your view
* Name:
* Email:
* Town/city:
* Country/State:
Advertisement
HouseAd_Trade Fair
Search News by City
Advertisement
Kosher 23460
Advertisement
HouseAd_Trade Fair
Recent Issue
2019
AVAILABLE NOW...!
Advertisement
Kosher 23460
News in Pictures
Videos
Stunning Jewellery from Cannes 2019
Pictures: 24
Sparkly Jewels at Oscars 2019
Pictures: 19
Golden Globes 2018
Pictures: 15
Spotted: Who Wore What (December 2018)
Pictures: 4
India Diamond Week
Pictures: 8
Spotted: Who Wore What (October 2018)
Pictures: 7
Spotted: Who Wore What (September 2018)
Pictures: 6
70th Emmy Awards
Pictures: 11
35th India International Jewellery Show 2018
Pictures: 46
Spotted: Who Wore What (August 2018)
Pictures: 4
JJS - IJ Jewellers Choice Design Awards 2015 powered by GIA
Views: 13770
GJEPC Chairman Interview
Views: 12624
IJ Jewellers Choice Design Awards 2012 - Part 1
Views: 19497
Promo for IJ Awards 2012 at NDTV Profit
Views: 32039
IJ Jewellers Choice Design Awards 2012- Part 2
Views: 35122
Couture India 2016 - A Business Boutique Show by IJ Magazine
Views: 10220
Savjibhai Dholakiya, Surat Businessman (Diamond Merchant) speaks in Vibrant 2015
Views: 33458
IJ Jewellers Choice Design Awards 2013 - NDTV Video
Views: 31601
Advertisement
KGK_Antwepr
Advertisement
Big Sub-IJ/DW
Member of:
Supporter of: