Retail

Retail sales to rise 10.5%

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Shoppers wear protective masks inside the Glendale Galleria shopping mall in Glendale, California, on Thursday, May 6, 2021.

Bing Guan | Bloomberg | Getty Images

One of the country’s largest retail trade groups, the National Retail Federation, boosted the industry’s outlook for the year on Wednesday, saying it anticipates “the fastest growth that we’ve seen in this country since 1984.”

Retail sales are expected to grow between 10.5% and 13.5% to an estimated total of $4.44 trillion to $4.56 trillion in 2021, as the economy rebounds from the pandemic and customers spend money they have socked away, NRF’s Chief Economist Jack Kleinhenz said at a virtual event. That forecast includes store…



Source cnbc.com

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