Resilience of consumer spending under economic gloom: U.S. holiday retail sales are expected to exceed $1 trillion for the first time.

According to the Wise Finance APP, the National Retail Federation (NRF) predicts that despite uncertain economic conditions and rising prices, American consumers' spending during this holiday shopping season is expected to exceed last year's. The organization's forecast for 2025, released on Thursday, shows that total consumer spending between November and December is expected to be between $1.01 trillion and $1.02 trillion, an increase of 3.7% to 4.2% from last year. This will be the first holiday shopping season in American history where retail sales surpass one trillion dollars. NRF data shows that total retail sales during last holiday season amounted to $976 billion.