Retail sales continue growth trajectory

The National Retail Federation (NRF) issued its annual forecast, with Chief Economist Jack Kleinhenz noting that retail sales are expected to grow between 4% and 6% to between $5.13 trillion and $5.23 trillion this year. “In just the last three years, the retail industry has experienced growth that would normally take almost a decade by pre-pandemic standards,” NRF President and CEO Matthew Shay said. “While we expect growth to be moderate in the year ahead, it will remain positive as retail sales stabilize to more historical levels.”