NRF expects holiday growth to hit 4.1%

Retail sales are on track to rise 4.1 percent in November and December, down from a 5.6 percent rise in the holiday sales period last year, according to a National Retail Federation (NRF) forecast. The projections are an important indicator for retailers that depend on the last two months of the year for up to 40 percent of their annual sales. But the estimates also offer valuable insight for economists who closely watch consumer spending, which accounts for up to 70 percent of economic activity. Read the Washington Post/The Associated Press story here.