• January 16, 2012

The National Retail Federation kicked off its annual convention with a subdued prediction: The trade group is forecasting a retail sales increase of 3.4% in the year ahead, or $2.53 trillion. In 2011, sales grew 4.7%. And while retailers ended last year with a relatively robust gain of 4.1% over the holiday period, the Washington D.C.-based group says the stalled unemployment rate, lack of newly created jobs, and weak housing market, along with fragile consumer confidence, will continue to weigh on consumers willing to shop more.