Retail Sales Forecast: 4.4% Growth, $5.6T
Irvine News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
The National Retail Federation predicts a robust 4.4% increase in retail sales this year, totaling $5.6 trillion, driven by steady consumer spending despite low confidence. Factors like rising wages, healthy household finances, and a strong job market support spending. However, the Iran wars impact on oil prices and gas costs could potentially adjust the outlook. Wholesale prices surged 3.4% in February, with food costs leading the rise, and labor conditions may soften, but unemployment is expected to remain under 4.5%, with higher-income shoppers leading the gains.
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