US holiday sales hit high record in spite of inflation relat...| MENAFN.COM

Tuesday, 18 January 2022 11:08 GMT

US holiday sales hit high record in spite of inflation related issues


(MENAFN) According to the National Retail Federation (NRF) statement on Friday, US holiday sales are on course to surpass forecasts for record expenditure, in spite of supply chain problems, high inflation and the omicron strain.

Jack Kleinhenz, NRF Chief Economist declared in a statement, "the latest data is encouraging and provides useful insights. In fact, the season could turn out even better than we expected."

He also mentioned, "with the momentum we’ve seen so far likely to continue, it seems probable that we will exceed our initial projection."

Based on NRF's latest estimates, holiday retail sales throughout November and December could today increase as much as 11.5 percent, in comparison to last year.

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