Ohio residents will spend 3.5 percent more on holiday shopping this year compared to 2012, according to data released this week by the University of Cincinnati Economics Center and Focus on Ohio’s Future, the research arm of the Ohio Council of Retail Merchants.
The Economics Center projects that Ohio’s total retail spending for November and December will be $14.9 billion, an increase of $503.5 million from 2012.
The state forecast is slightly lower than the National Retail Federation’s national forecast of 3.9 percent. Recent declines in consumer confidence have contributed to this lower forecast, officials said.
The Dayton and Cincinnati metro areas will see lower percent increases than the statewide average, the report said. Dayton will see a 0.1 percent increase compared to last year, while Cincinnati will see a 3.4 percent increase from 2012.
The Columbus metro area represents the largest share of retail spending in Ohio, and will see the biggest increase in holiday spending of 4.4 percent, the report said.
By Dave Larsen - Dayton Daily News, Ohio (MCT)
©2013 the Dayton Daily News (Dayton, Ohio)
Visit the Dayton Daily News (Dayton, Ohio) at www.daytondailynews.com
Distributed by MCT Information Services