“It shows the psychological mind frame of consumers,” said Mickey Chadha, vice president of corporate finance at Moody’s Investors Services, referring to holiday spending data.
This year, dollar sales growth for the holidays in the United States is forecast to slow to 3.3% from 6% last year.
It means the spending growth it reported was “driven by net-new demand, not simply higher prices,” Adobe said.
The experts CNN spoke to were all in agreement: Holiday spending data — no matter how good or bad — doesn’t represent the state of the entire US economy.
A report she coauthored with Chadha predicts holiday sales will grow “a fairly modest 1% to 3%” this year.
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Organizations:
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