Holiday Sales Expected to Hit Record Levels in 2019
Every year, it seems, the holiday shopping season starts a little bit earlier. The retail sprint that used to begin on the Friday after Thanksgiving now kicks off at many stores on Nov. 1.
It also keeps growing steadily bigger. This year's holiday sales total is expected to grow by between 3.8 and 4.2% from the 2018 result, according to a forecast from the National Retail Federation (NRF). That's between $727.9 billion and $730.7 billion, excluding the revenues of automobile dealers, gasoline stations, and restaurants. It's also a slightly faster growth rate for the season's sales than the 3.7% averaged over the last five years.
"The U.S. economy is continuing to grow and consumer spending is still the primary engine behind that growth," NRF President and CEO Matthew Shay said in a press release. "Nonetheless, there has clearly been a slowdown brought on by considerable uncertainty around issues including trade, interest rates, global risk factors, and political rhetoric. Consumers are in good financial shape and retailers expect a strong holiday season. However, confidence could be eroded by continued deterioration of these and other variables."
Source Fool.com
