|
NEW YORK (AP) - Holiday sales are expected to grow at the slowest pace in five years as shoppers fret about jobs, tight credit and slumping home prices, according to a forecast from the world's largest retail trade group.
That could mean lower prices and big pre-Thanksgiving sales blitzes as merchants compete for a piece of the holiday budget.
The Washington-based National Retail Federation predicted on Thursday that total holiday sales will be up 4.0 percent for the combined November and December period, the slowest growth since a 1.3 percent rise in 2002.
|