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Dismal Holiday Shopping Season Holds Little Relief for the U.S. Economy
The usual Christmas rush will hold little relief for retailers and a flagging U.S. economy, as the National Retail Federation (NRF) predicts a lackluster holiday shopping season.
The NRF today (Tuesday) released its estimate for the 2008 holiday shopping season. The largest global retail trade association forecast a scant 2.2% increase to $470.7 billion in end-of-year retail purchases.
“Current financial pressures and a lack of confidence in the economy will force shoppers to be very conservative with their holiday spending,†said NRF Chief Economist Rosalind Wells in a statement. “We expect consumers to be frugal this season and less willing to…
23Sep2008 | Money Morning | 1 comment | Continued
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