Retail industry groups are predicting a subdued holiday season, with smaller gains than in 2010, as consumers struggle with prolonged economic worries.
The International Council of Shopping Centers forecasts that U.S. holiday sales will post a moderate gain, with sales expected to increase 2.2 percent during the November-December period compared with the same period last year.
The group says retail momentum had been good lately but that there were economic roadblocks ahead that could dampen sales.
Last month, the group's chief economist predicted that sales during the period would be up 3.5 percent. In 2010, holiday sales rose 5 percent year over year, in the best Christmas season since the recession.
Read Full Article
Enjoy curated articles directly to your inbox.