Rise In Holiday Spending Projected
A University of Cincinnati Economics Center forecast projects a 4.2 percent increase in retail sales for November and December, as compared with the same period a year ago.
Forecasters say consumer confidence is up, consumer debt is down, and Ohio's unemployment rate has fallen to below 7 percent. The researchers say the largest increase will be in the Columbus metro market, with sales expected to rise 7.5 percent. They say possible drags on holiday spending could come from concerns about gas prices and the federal budget battle.