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Business & Economy

Study: Ohio retailers expected to see slight gains in holiday spending

Columbus' Easton Town Center is fully decorated for the holiday season.
Karen Kasler
/
Ohio Public Radio

Again this year, the 7,500-member Ohio Council of Retail Merchants hired the University of Cincinnati Economics Center for a forecast of holiday spending.

They expect Ohioans to spend more than $32 billion this year — an increase of less than 1%.

Brad Evans, the center's Director of Research, said consumer confidence remains below pre-pandemic levels.

"Pair that with high inflation, high interest rates... I think psychologically some consumers maybe are pulling back some of those purchases a little bit," he said.

Evans said Columbus fared better than most metros in the study, with retail growth expected to be more than 5% — second only to Youngstown.

For more of the report's findings, .

Matthew Rand is the Morning Edition host for 89.7 NPR News. Rand served as an interim producer during the pandemic for ÐÇ¿ÕÎÞÏÞ´«Ã½â€™s All Sides daily talk show.