NRF Predicts Jump in Holiday Sales

RAPAPORT... The National Retail Federation (NRF) has forecast a strong rise in US holiday sales this year, amid a healthy economy and strong consumer sentiment. Retail sales in November and December will increase 4.3% to4.8% for a total of between $717.45 billion and $720.89 billion, theorganization said last week. The average increase over the past five years was3.9%, it added. "We believe that this holiday season will continue toreflect the growth we've seen over the past year," said NRF CEO Matthew Shay."While there is concern about the impacts of an escalating trade war, we areoptimistic that the pace of economic activity will continue to increase throughthe end of the year." In 2017, holiday sales of jewelry comprised 28% of thecategory's total sales for the year, the federation said, citing the US CensusBureau. Image: Holiday gift. (Pexels)