An NRF forecast revealed today that 2008 holiday sales are expected to grow at the slowest rate in six years. The 2.2% expected rise would mean sales will hit $470.4 billion, but the growth rate is half the average rate for November and December over the last decade. "We expect consumers to be frugal this season and less willing to splurge on discretionary items," Rosalind Wells, NRF's chief economist, said.

Related Summaries