Federal shutdown could hamper Christmas retail spending

With so many workers furloughed in the shutdown, retailers are worried they will have the disposable income to spend on Christmas. It was projected spending in the November - December period would rise +3.9% to $602.1 billion. Last year sales increased +3.5% in that period. The importance of this sales period is critical to business as retailers realize about 40% of their annual revenue through Christmas shoppers. Online sales are expected to grow +13-15% in this period.