Better Ohio holiday retail sales expected - 21 News Now, More Local News for Youngstown, Ohio -

Better Ohio holiday retail sales expected

Updated:

CINCINNATI (AP) - Economic forecasters say Ohio's rebounding economy and jobs picture mean a brighter holiday sales outlook for the state's retailers.

A University of Cincinnati Economics Center forecast projects a 4.2% increase in sales for November and December this year, over last year.

Forecasters say consumer confidence is up while consumer debt is down, and note that Ohio's unemployment rate has also fallen from double digits during the Great Recession to below 7%.

The researchers say the biggest uptick will be in the important Columbus metro market, with sales expected to rise 7.5% for the holiday period.

Sales in the Youngstown metropolitan area are expected to rake in about $583 million dollars, a three percent jump. But that is still lower than the statewide average.

They say possible drags on holiday spending could come from concerns about gas prices and the federal "fiscal cliff" looming without a deal on expiring tax cuts and automatic spending cuts.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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