Black Friday kicks off holiday shopping season

City A.M. Reporter
Black Friday got off to an early start last night, as shoppers in the US hit the high street.

Black Friday, the day after Thanksgiving that is synonymous with shopping, could see 147m people shopping over the weekend, according to the National Retail Federation.

Many stores opened late on Thursday, continuing a trend that began last year.

The industry trade body has forecast a 4.1 per cent increase in retail sales during the November and December holiday period this year, down from the 5.6 per cent increase seen last year.

“It will be crucial to observe the boost this provides to retail data going forward as consumers may hold off in anticipation of increased 2013 taxes associated with the fiscal cliff,” said Joshua Mahony, research analyst at Alpari.