Economic activity in the services sector expanded for the fifth consecutive month in November, according to the Institute for Supply Management’s Report on Business, with retail in positive territory. In its survey of purchasing and supply executives in the United...
For the upcoming holiday season, the National Retail Federation is forecasting that sales will reach record levels during November and December, growing between 3% and 4% versus the 2022 period and reaching between $957.3 billion and $966.6 billion total. Despite a...
In its annual holiday forecast, payments provider Blackhawk Network stated that spending on the festive season will gain a modest 3%, with gift cards getting a more significant piece of the holiday pie. According to Blackhawk, consumers will spend 43% of their holiday...
In association with the February issue release of NRF’s Monthly Economic Review, National Retail Federation chief economist Jack Kleinhenz maintained that a recession is unlikely in the immediate future and the United States economy should see slight growth in 2023 as...
With consumers pressured by economic uncertainty, higher interest and inflation eroding their incomes, retail sales during 2022’s November-December holiday season grew 5.3% over the 2021 period to $936.3 billion but fell short of the National Retail Federation’s...
