National Retail Federation (NRF)

The federation is sticking with its initial outlook for the holiday season, which calls for consumer spending to increase between 2.5% and 3.5%.

The National Retail Federation says consumers are expected to spend $902 this year on gifts and other items, the highest figure since 2019.

The National Retail Federation's annual report expects holiday sales to grow between 2.5% and 3.5%.

Online sales along with a boost in revenue for clothing and accessories kept sales in the black during the year's ninth month.

The National Retail Federation's monthly Global Tracker Report forecasts October port traffic to remain strong despite the recent work stoppage.

In a letter to the President, the federation urges 'all available authority and tools' be used to reopen the ports and bring the parties back to the bargaining table.

An annual survey by the National Retail Federation shows a growing movement of consumers who are getting a head start on shopping for their October holiday needs.

Figures from the National Retail Federation's CNBC/NRF Retail Monitor show gains in the year's eighth month as job growth and inflation both ease.