Shopping Center Group Trims November Sales Forecast
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Shopping Center Group Trims November Sales Forecast
A council of shopping centers is trimming its November sales growth forecast as sales lag compared to a year ago.
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NEW YORK (December 1, 2009)--The International Council of Shopping Centers trimmed its November sales growth forecast as shoppers fell behind in their holiday buying compared with a year ago.

Michael P. Niemira, chief economist for ICSC, predicted Tuesday that November sales at stores open at least a year, which is a key industry barometer, will be up 3 to 4 percent, compared with the steep 7.7 percent drop a year ago.

But the increase will be below the original forecast for growth in a range of 5 percent to 8 percent.

Sales at stores that have been open for at least a year are considered a key indicator of a retailer's health.

Major retailers are slated to report final monthly results Thursday.

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