“Already
facing far fewer obstacles than this time last year in terms of growth
opportunities, retailers are optimistic about the potential that exists
for healthy growth in retail sales and consumer engagement in 2015,”
said NRF President and CEO Matthew Shay. “While our outlook for the year
ahead is positive, we aren’t quite out of the woods; in order to see
continued momentum we need a commitment from our leaders in Washington
to pass legislation that will encourage investment, create jobs and set
us on the path towards sustained, long-term economic growth.”
“The economy appears to finally have gained some real traction and after a somewhat turbulent 2014, we expect to see continued gains in economic activity in the year ahead,” said NRF Chief Economist Jack Kleinhenz. “While Americans are benefiting from a pickup in wages and jobs and gains in the U.S. stock market, economic slack has been reduced. We still, however, have a ways to go in order to achieve sustainable economic growth. There are a few wild cards that the retailers will need to keep an eye on, like global economic growth, energy prices and even inflation.”
“The economy appears to finally have gained some real traction and after a somewhat turbulent 2014, we expect to see continued gains in economic activity in the year ahead,” said NRF Chief Economist Jack Kleinhenz. “While Americans are benefiting from a pickup in wages and jobs and gains in the U.S. stock market, economic slack has been reduced. We still, however, have a ways to go in order to achieve sustainable economic growth. There are a few wild cards that the retailers will need to keep an eye on, like global economic growth, energy prices and even inflation.”
Additional economic insights from the National Retail Federation include:
- A baseline outlook for growth in the economy as measured by GDP is expected to land between 2.7 and 3.2 percent over last year;
- Growth in the labor market should average between 220,000 – 230,000 new jobs per month throughout the year;
- Unemployment is expected to drop to 5 percent by year’s end;
- Gains in equities and housing have boosted net worth to record levels, helping consumers feel more confident about household spending.
Additionally, January retail sales released today by the National
Retail Federation, which excludes automobiles, gas stations and
restaurants, increased 0.2 percent seasonally adjusted month-to-month
and 3.7 unadjusted year-over-year. Today’s results confirm holiday sales
growth of 4 percent.
The U.S. Commerce Department said on Thursday that January retail sales decreased 0.8 percent over the previous month seasonally adjusted, and increased 3.3 percent unadjusted year-over-year.
NRF is the world’s largest retail trade association, representing discount and department stores, home goods and specialty stores, Main Street merchants, grocers, wholesalers, chain restaurants and Internet retailers from the United States and more than 45 countries. Retail is the nation’s largest private sector employer, supporting one in four U.S. jobs – 42 million working Americans. Contributing $2.6 trillion to annual GDP, retail is a daily barometer for the nation’s economy. NRF’s This is Retail campaign highlights the industry’s opportunities for life-long careers, how retailers strengthen communities, and the critical role that retail plays in driving innovation. NRF.com.
* Retail industry sales according to NRF include most traditional retail categories including auto parts and accessories stores, non-store categories, discounters, department stores, grocery stores, and specialty stores, and exclude sales at automotive dealers, gas stations, and restaurants.
The U.S. Commerce Department said on Thursday that January retail sales decreased 0.8 percent over the previous month seasonally adjusted, and increased 3.3 percent unadjusted year-over-year.
NRF is the world’s largest retail trade association, representing discount and department stores, home goods and specialty stores, Main Street merchants, grocers, wholesalers, chain restaurants and Internet retailers from the United States and more than 45 countries. Retail is the nation’s largest private sector employer, supporting one in four U.S. jobs – 42 million working Americans. Contributing $2.6 trillion to annual GDP, retail is a daily barometer for the nation’s economy. NRF’s This is Retail campaign highlights the industry’s opportunities for life-long careers, how retailers strengthen communities, and the critical role that retail plays in driving innovation. NRF.com.
* Retail industry sales according to NRF include most traditional retail categories including auto parts and accessories stores, non-store categories, discounters, department stores, grocery stores, and specialty stores, and exclude sales at automotive dealers, gas stations, and restaurants.
Source NRF ©
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