Forecast points to solid holiday growth

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by Laura Matovina

NEW YORK (AP) -- A research firm is forecasting solid revenue gains for the holiday season though the pace should be slightly below a year ago.

Chicago-based research firm ShopperTrak says it expects retail revenue in November and December to be up 3.3 percent during what's traditionally the biggest shopping period of the year.

The sales prediction from ShopperTrak would be below last year's pace of 3.7 percent and the more than 5 percent gains seen during the boom economic times. But it would be respectable given that shoppers are still grappling with high unemployment and other financial challenges

The National Retail Federation, the nation's largest retail trade group, is expected to issue its forecast in early October.

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