Business, Freight News, Logistics

NRF Forecasts Retail Sales to Grow 3.1% in 2016

[ March 11, 2016   //   Gary G Burrows ]

In its 2016 economic forecast, the National Retail Federation (NRF) projects that retail industry sales (which exclude automobiles, gas stations and restaurants) will grow 3.1%, higher than the 10-year average of 2.7%. NRF also announced today it expects non-store sales in 2016 to grow between 6 and 9%.
“The consumer is in the driver’s seat and steering our economic recovery. The best thing the government can do is stay out of the way,” remarked Matthew Shay, NRF President and CEO.
“Wage stagnation is easing, jobs are being created and consumer confidence remains steady, so despite the headwinds our economy faces from international developments — particularly in China — we think 2016 will be favorable for growth in the retail industry.”

Tags: National Retail Federation