As Government Shutdown Continues, Retailers Prep for Ho-Hum Holiday Season
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It’s poised to be another ho-hum holiday season for retailers.
The National Retail Federation says economic headwinds and the distractions of a government shutdown could temper spending this holiday season. The group expects sales in the months of November and December will increase modestly, by 3.9% to $602.1 billion, slightly ahead of last year’s 3.5% holiday sales growth.
“Our forecast is a realistic look at where we are right now in this economy — balancing continued uncertainty in Washington and an economy that has been teetering on incremental growth for years,” said Matthew Shay, NRF president-CEO, in a statement. “Overall, retailers are optimistic for the 2013 holiday season, hoping political debates over government spending and the debt ceiling do not erase any economic progress we’ve already made.”
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