Retail group finds 'Claus' for optimism

WASHINGTON, Dec. 14 (UPI) -- The National Retail Federation fine-tuned its forecast for the 2010 U.S. holiday shopping season to an increase of 3.3 percent.

The federation, which defines November and December as the holiday season for retailers, had previously predicted a sales increase of 2.3 percent over last year.

The NRF adjusted its prediction because, "The start to the holiday season has surpassed all expectations," the group's President and Chief Executive Officer Matthew Shay said.

The Commerce Department said November retail sales rose 0.8 percent over October and 9.2 percent over November 2009.

"Consumers have not been suffering from a lack of spending power, they've just been missing the confidence to use it," said NRF Chief Economist Jack Kleinhenz.

Looking past the holiday shopping season, Shay said, "In order to sustain this momentum for retailers and the U.S. economy, there must be a renewed focus on jobs as we enter the new year."