The National Retail Federation has raised its U.S. retail sales forecast for 2018 to a minimum of 4.5 percent, rather than the 3.8 to 4.4 percent growth it forecasted earlier in 2018. The organization cited higher wages, gains in disposable income, and a strong job market, which are boosting consumer spending. In addition to spending expectations, the revised forecast takes into account government revisions to retail sales, personal income, and consumption numbers from 2016 and 2017 that affect year-to-year comparisons.
"We knew this would be a good year, but the first half turned out to be even better than expected," says NRF president and CEO Matthew Shay. "However, a tremendous amount of uncertainty about the second half remains. It could be a banner year for the industry, or we could keep chugging along at the current rate."
Related: Meet the New Convenience Store; Retailer Profile: Whole Foods Market 365.
from Specialty Food News https://ift.tt/2P9RWvd
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