Holiday shopping starts slowly

Consumers are off to a slow start in their holiday shopping, according to a survey from the National Retail Federation, a trade group.

Young adults in the 18-to-24 age range are the least prepared for the holidays with 76.2 percent of them finished with less than 10 percent of their shopping, the group said today.

Many economists fret that the holiday retail season will be soft as consumer concerns about high energy prices and troubles in the housing market result in restrained spending, but the federation remains upbeat.

"Now that the weather has started to cool, consumers will start to think about holiday shopping by making lists, researching gift ideas, and window shopping around town," Tracy Mullin, the federation's president and chief executive, said in a statement.
(By Chris Reidy, Globe staff)