Retail trade group: holiday sales could break new records

NEW YORK (AP) — The National Retail Federation expects that holiday sales gain could shatter last year’s record-breaking season even as a snarled global supply chain slows the flow of goods and results in higher prices for broad range of items. The nation’s largest retail trade group said Wednesday (Oct. 27, 2021) it predicts that sales for the November and December period will grow between 8.5% and 10.5% to $843.4 billion and $859 billion. Holiday sales increased 8.2% in 2020 compared with the previous year. The numbers exclude automobile dealers, gasoline stations and restaurants. Holiday sales have averaged gains of 4.4% over the past five years.