Holiday retail sales in the US will grow in 2018 by 4,3-4,8% due to strong economy, Reuters reports with reference to National Retail Federation. But the growth will be lower than last year when customer spending reached the highest level in 12 years.

Sales gains will however exceed average for five years, which is 3,9%.

Last year 5,3% gain was caused by growing wages, reducing unemployment level and anticipation of tax cuts.

According to group’s forecast, sales in last two months of this year will be between $717,45 billion and $720,89 billion, excluding cars, gasoline and restaurants. Last year sales were $687,87 billion.

Usually for most retailers last two months of sales account for 20-40% of annual volumes.