The Council of Shopping Centers released a statement yesterday that they predict holiday spending to increase 3 percent over last year. This trade group which represents shopping malls said Friday that 'November-December spending should top $250 billion, the highest since the 2007' peak. This prediction does not include sales at grocery stores, restaurants or gas stations but sales should certainly improve with these businesses also.
A 3% increase in spending will be major news for the remaining retailers because after all the store closings of the past 2 years they should each grab a larger portion. If the 3% increase materializes some stores could see 5 to 7% year over year growth. This is how economic recoveries begin.
Terry Edwards New & Existing Home Sales
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