Forecasts point to another strong year of retail sales growth

February 5, 2019 – HomeWorld Business carried a report today from the National Retail Federation (NRF) forecasting strong US retail sales this year following 2018 retail sales growth of 4.6%.

Indoor Mall

Despite issues including the U.S./China trade war, a volatile stock market and the effects of the government shutdown, the NRF is forecasting sales to increase between 3.8% and 4.4%.

Retail sales growth of between 3.8% and 4.4% would result in total 2019 retail sales of between $3.82 trillion and $3.84 trillion. Based on growth of between 10% and 12%, online sales would total between $751.1 billion and $764.8 billion, which are included in the total.

“We are not seeing any deterioration in the financial health of the consumer,” said Jack Kleinhenz, NRF chief economist. “Consumers are in better shape than any time in the last few years. Most important for the year ahead will be the ongoing strength in the job market, which will support the consumer income and spending that are both key drivers of the economy.”

Mr. Kleinhenz said that retail sales have been helped by recent reductions in gasoline prices as well.

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