Executive Briefings

U.S. Holiday Retail Sales Predicted to Be Above Average

U.S. holiday retail sales are estimated to rise 3.8 percent, according to an outlook report from Wells Fargo Securities, LLC Economics Group. The increase is above average for the last decade, although less than the 5.7-percent increase in November and December of 2011.

Headwinds to consumer spending include uncertainty around the impending fiscal cliff, job growth, and slowing real disposable income, while the slow expansion of consumer credit should help to support some consumer spending.

Even with boost to retail sales in the fourth quarter, Wells Fargo said it expects real personal consumption expenditures to stay in the 2-percent percent range through the end of 2012.

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Headwinds to consumer spending include uncertainty around the impending fiscal cliff, job growth, and slowing real disposable income, while the slow expansion of consumer credit should help to support some consumer spending.

Even with boost to retail sales in the fourth quarter, Wells Fargo said it expects real personal consumption expenditures to stay in the 2-percent percent range through the end of 2012.

Read Full Article