Retail sales normally grow year by year, just like the economy. However last year, as the economy was tumbling into recession, retail sales during the holiday season fell by 3.4 percent, according to the National Federation of Retailers. The NYT tells us that this year is not expected to be as bad, with sales falling by just 1.0 percent.
Actually, this year is worse than last year. Sales will be even lower than a very bad year. This one should not be hard.
The American Prospect is nonprofit, reader-funded journalism—and we need your help.
Our reporters dig deep, hold power to account, and explain how policy shapes people’s lives. If you value independent journalism that goes beyond the headlines, now’s the time to support it.
Here’s how you can help: • Donate to power fearless reporting
• Subscribe to get our print magazine 6x/year.
