Posted: Oct 6, 2009 7:21 AM by John Pastorek
Updated: Oct 6, 2009 7:40 AM
Source: Associated Press
The National Retailers Federation predicted a 1 percent decline in total sales for November and December combined, giving a lackluster outlook for the upcoming holiday shopping season.
The projection from the world's largest retail trade group came amid forecasts that U.S. retailers saw a key measure of sales drop in September for the 13th month in a row, compared with a year earlier.
So far, holiday 2009 forecasts range from as weak as a 3.5 percent decline from a Wells Fargo economist to predictions at the top end from retail research groups that sales will be the same as last year.