The largest U.S. retail trade group is forecasting that the country's retail sales will increase anywhere between 2.5% and 3.5% this year
The largest U.S. retail trade group is forecasting that the country's retail sales will increase anywhere between 2.5% and 3.5% this yearFILE - Shoppers and sightseers walk along 5th Avenue, Dec. 11, 2023, in New York. The National Retail Federation said Wednesday, March 20, 2024, that retail sales will increase anywhere between 2.5% and 3.5% this year, a solid but still slower pace than the 3.6% seen last year. The largest U.S.
The 2024 forecast is roughly in line with the 10-year pre-pandemic average annual sales growth of 3.6%. A strong jobs market and rising wages have fueled household spending, but retail sales have become choppy in the face of rising credit costs and still higher prices. And shoppers have been shifting their spending to services after focusing on buying goods while they were staying close to home during the heart of the pandemic.
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