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NRF predicts 3.6 percent increase in holiday sales

Published: October 5, 2016
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The National Retail Federation (NRF) announced Oct. 4 that it anticipates November and December sales to increase 3.6 percent to $655.8 billion. These numbers exclude autos, gas and restaurant sales. 

The NRF also expects non-store sales to increase between 7 and 10 percent, up to $117 billion.

“All of the fundamentals are in a good place, giving strength to consumers and leading us to believe that this will be a very positive holiday season,” said Matthew Shay, NRF President and CEO. “This year hasn’t been perfect, starting with a long summer and unseasonably warm fall, but our forecast reflects the very realistic steady momentum of the economy and industry expectations. We remain optimistic that the pace of economic activity will pick up in the near term.”

NRF also predicts that retailers will hire between 640,000 and 690,000 seasonal employees this holiday season. This number is similar to last year's 675,300 seasonal positions.