By and  on October 6, 2009

Holiday retail sales will be down, but not as sharply as last year, according to the National Retail Federation.

The trade organization on Monday predicted holiday sales would decline 1 percent this year to $437.6 billion. That’s well below the 10-year average of 3.39 percent gains, although far better than both last year’s 3.4 percent drop and the 3 percent decline in annual retail sales forecast for all of 2009.

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