News Brief

Retail Sales To Rise 3.4%This Year

The National Retail Federation says it expects all retail industry sales to increase by 3.4% this year, not quite as strong as the 4.2% growth seen in 2012. The Washington, D.C.-based trade group says its cooler outlook is based on the somewhat sluggish results of the holiday periods, as well as a more moderate outlook in employment, income and housing gains. Online sales, which gained 11.1% last year, are expected to grow somewhere between 9 and 12%. (Unlike the U.S. Commerce Department, the NRF’s predictions exclude automobiles, gas stations, and bar and restaurant sales.)

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