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Holiday Outlook Bright For Ohio Retailers

Stock photo, (Flickr.com/Auntie P)
Stock photo, (Flickr.com/Auntie P)

The University of Cincinnati's Economics Center predicts a big spike in retail sales for the 2013 holiday season, with the help of a busy Black Friday.

Senior researcher Jeff Rexhausen says Ohio retailers will see a 3.5% increase in sales this November and December compared to last year.

According to the report, every month this year saw increased sales compared to the same month in 2012.

"There are some other factors as well, that wages and salaries are increasing in Ohio," says Rexhausen. "We've also seen some strong gains in housing market prices as well as the timing for people to be able to sell their homes so the demand is picking up to catch up with supply."

Rexhausen warned that there are some headwinds that could damper the shopping season including a decline in consumer confidence, political uncertainty in Washington, and the continued increase in internet sales.