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October 08, 2010
Holiday Retail Sales Set For Moderate Increase
By: Mike Sachoff
Holiday retail sales are expected to increase a more moderate 2.3 percent this year to $447.1 billion, according to a new forecast from the National Retail Federation (NRF).

While that growth remains slightly lower than the ten-year average holiday sales increase of 2.5 percent, it would be a marked improvement from both last year's 0.4 percent uptick and the dismal 3.9 percent holiday sales decline retailers experienced in 2008.

"While many consumers will be wishing for apparel and electronics this holiday season, retailers are hoping the holidays bring sustainable economic growth," said NRF President and CEO Matthew Shay.

"Though the retail industry is on stronger footing than last year, companies are closely watching key economic indicators like employment and consumer confidence before getting too optimistic that the recession is behind them."

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