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US body sees sales rising 4% this year
By Phil Wahba |
February 18, 2011, Friday
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Print Edition
Print Edition
THE National Retail Federation said it expects US retail sales to rise 4 percent in 2011, continuing a trend of improving consumer spending last year that intensified over the holidays.
The industry group said that stronger-than-expected sales in November and December made it "cautiously optimistic" that shoppers will further increase spending this year.
"With retailers leading the charge, the economic recovery appears to be gaining some steam," NRF Chief Executive Matthew Shay said.
But the NRF warned that reluctance of small businesses to add employees and higher gasoline prices could yet slow consumer spending.
United States retailers rang up their best holiday sales in six years, with the 2010 season's sales up 5.7 percent.
The industry group said that stronger-than-expected sales in November and December made it "cautiously optimistic" that shoppers will further increase spending this year.
"With retailers leading the charge, the economic recovery appears to be gaining some steam," NRF Chief Executive Matthew Shay said.
But the NRF warned that reluctance of small businesses to add employees and higher gasoline prices could yet slow consumer spending.
United States retailers rang up their best holiday sales in six years, with the 2010 season's sales up 5.7 percent.
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