KEY POINTS
  • Holiday sales could best even the rosiest expectations for the major shopping season, according to the National Retail Federation.
  • The major trade group's economist, Jack Kleinhenz, said Friday that spending in November and December could grow as much as 11.5% compared with the same period a year ago.
  • The NRF had already called for a record holiday season, projecting in late October that sales would rise between 8.5% and 10.5% from last year.
A person wears a face mask while carrying shopping bags in Columbus Circle on November 28, 2020 in New York City.

Holiday sales could exceed even the rosiest expectations for the major shopping season, according to the National Retail Federation.

The major trade group's economist, Jack Kleinhenz, said Friday that spending in November and December could grow as much as 11.5% compared with the same period a year ago — higher than many retail analysts and NRF itself had predicted.