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National Retail Federation Predicts Rise In Holiday Spending

Posted at 8:52 AM, Oct 04, 2018
and last updated 2018-10-04 09:17:36-04

(MediaPost) – The National Retail Federation predicts that there will be an increase in holiday spending this year.

The NRD is forecasting a gain of between 4.2% and 4.8%.

That translates to as much as $720.89 billion in November and December — and while that is somewhat below last year’s 5.3% gain, it still stands well above the five-year average of 3.9%.

The predictions include all retail sales in November and December, excluding automobiles, gasoline and restaurants. And it includes online and other non-store sales.

The Washington-based trade group also predicts retailers will try and add between 585,000 and 650,000 seasonal employees, up from 582,500 last year.