NRF: Retail Sales to Increase 3.4 Percent in 2013
January 29, 2013
The National Retail Federation (NRF) projects retail industry sales (excluding automobiles, gas stations and restaurants) will increase 3.4 percent, slightly less that the preliminary 4.2 percent growth seen in 2012.
A number of factors contributed to NRF’s 2013 economic forecast, including steady unemployment rates, modest income growth, anticipated gains in the housing sector, inflation and consumer confidence, which is expected to improve as the pace of the economic recovery accelerates in the second half of 2013.
Additionally, shop.org, NRF’s digital division, released its online sales forecast, reporting that online sales in 2013 are expected to grow between 9 and 12 percent.