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Modest Growth Forecast for Ohio Holiday Retail Sales
By: Associated Press
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TOLEDO, Ohio (AP) – Ahead of Black Friday and the December sales season, researchers are expecting a modest 2 percent increase in Ohio holiday retail spending compared with last year.
The annual forecast from the University of Cincinnati Economics Center says that overall Ohio’s wages continue to grow and consumer confidence is still strong.
Retail spending over the holidays in Ohio is expected to grow by $481 million for an overall total of $24.1 billion this year.
The study’s author notes that the predicted modest increase would put Ohio’s holiday sales at 9.5 percent more than in 2015. Sales outlooks are expected to increase most in the Cleveland, Dayton and Toledo regions.
The forecast uses sales data, employment, consumer confidence and a variety of other economic indicators to project holiday spending.