US Economy- U.S. retailers expect weak holiday sales again - by Kevin G.Hall
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Most economists agree the nation's deep recession is over, but that isn't bringing much cheer to retailers. For the second consecutive holiday season, they're bracing for declining sales. "We're expecting (holiday) sales to be down 1 percent this year, which, believe it or not, represents a stabilizing of the (retail) industry," said Scott Krugman, a spokesman for the National Retail Federation, the trade group for major retail chains. Many retailers suffered through a year-over-year drop in sales of at least 3 percent last holiday season, so this year isn't expected to be as bad. That's a sign of how bad the U.S. economy has been: Less bad now passes as good news for retailers.
Labels: EU, US Consumer
