US: National Retail Federation predicts sales increase in 2018
On Monday, the National Retail Federation released its 2018 economic forecast, projecting that retail industry sales will grow between 3.8 and 4.4 percent over 2017. Online, catalogue, vending machine and kiosk sales, which are included in the overall number, are expected to increase between 10 and 12 percent. (These figures exclude car dealerships, gas stations and restaurants.)
NRF’s optimism is tied to strong employment, improved salaries and higher-than-expected holiday sales. According to the U.S. Census bureau’s preliminary statistics, holiday sales during November and December increased 5.5 percent over the same period in 2016. This put the year’s total sales at $3.53 trillion, a 3.9 percent growth at 3.9 percent — exceeding NRF’s 2017 forecast for growth between 3.2 and 3.8 percent.
Read more at safnow.org (Katie Hendrick)