The recent rebound in retail growth continued in November as retail executives reported above normal readings in key industry operations measures that make up the National Retail Federation (NRF) Executive Opinion Survey, a monthly index by the NRF.

The Retail Sector Performance Index (RSPI) for November posted an above normal reading for the third consecutive month with a reading of 54.6, unchanged from the previous month and up 2.4 points year-over-year. The RSPI measures retail executives' evaluations of monthly sales, customer traffic, the average transaction per customer, employment, inventories and a six-month-ahead sales outlook expectation. The RSPI is based on a scale of 0-100 with 50 equaling normal.

"The holiday season started off with a bang, but we are just getting started," said NRF President and CEO Tracy Mullin. "Key economic indicators such as consumer spending, job growth and oil prices appear more favorable. This should help fuel consumer sentiment and give the industry a strong holiday selling season."

NRF continues to project an increase of 4.5% in holiday sales over 2003, bringing estimated revenues of $219.9 billion this holiday season.