Report: Slow Holiday Sales Expected
As the markets set to open today, they will be greeted with some more not-sunny news: A report from the National Retail Federation that predicts the slowest holiday sales season in six years.
The report does not predict a decline in holiday spending, compared to last year -- consumers are not expected to actually spend less than they did last year. Instead, they are expected to spend more than last year, just not as much more as they have in past years.
Even though this is not what most would consider bad news -- Christmas stores won't shutter -- it might be bad enough for Wall Street to depress early trading.
Post retail reporter Ylan Q. Mui wrote about two other holiday reports that came out yesterday that predict the worst holiday season since 1991.
--Frank Ahrens
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Frank Ahrens
|
September 23, 2008; 9:25 AM ET
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Posted by: Jamie | September 23, 1908 10:30 AM | Report abuse
It's all a scam because there's no time to debate it. Let the banks fail. We charter new banks if it isn't a bluff.
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Posted by: Kacoo | September 23, 1908 11:10 AM | Report abuse
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Stick to politics. People who know the economy realize that those figures are scuttle at this point, and have been expecting that news for the last 5 months.
Yawn.