Survey Projects Strong Holiday Sales

A National Retail Federation survey predicts an upbeat holiday season for merchants, with consumer spending rising 5% to 6% nationwide. The survey, conducted by Deloitte & Touche, is based on a poll of 1,010 consumers and 50 retailers nationwide. On average, retailers said they expect their November and December sales and profits to rise more than 10% above 1997 levels and consumers indicated they plan to spend 4.5% more this year, the report said. Respondents in Southern California were more conservative in their spending plans and their responses suggest a holiday season sales increase of 2% to 3% in the Southland, said Jacquelin Fernandez, director of the Consumer Business Group at the Los Angeles offices of Deloitte & Touche.