2022 holiday retail spending to rise, but slower growth due to inflation and interest rates.
The National Retail Federation forecasts an increase in consumer spending for the upcoming holiday season, but expects slower sales growth compared to last year. This is attributed to ongoing inflation concerns and higher prices, influenced by elevated interest rates. While spending is set to rise, the overall pace of retail sales growth will be modest compared to previous holiday seasons. Specific predictions for 2024 were not disclosed.
October 15, 2024
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