US holiday sales to grow at a slower pace this holiday season - report
© Reuters. FILE PHOTO: A woman walks past a shop offering Black Friday deals in Manchester, Britain, November 26, 2022. REUTERS/Phil Noble - U.S. holiday sales are expected to see a modest rise compared to last year, data from the National Retail Federation showed on Thursday, as Americans turn more cautious during the all-important holiday season amid tightening household budgets.
Shoppers are taking calculated steps before splurging this holiday season as high fuel and food prices wipe out their household budgets, which is starting to see an additional hit of student loan repayments. NRF's gloomy expectations for the two months echo a similar forecast from Deloitte that sees holiday sales in the United States rise at their slowest pace in five years as consumers purchase items and prioritise necessary products needed for day-to-day requirements.
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