WASHINGTON – The U.S. economy’s rate of growth is slowing, but consumers remain financially healthy and the nation is unlikely to enter into a recession during the remainder of 2022, National Retail Federation chief economist Jack Kleinhenz said Thursday. “I am not betting on an official recession in the near term, but the most recent
WASHINGTON – The Federal Reserve faces “a tricky job” in addressing inflation but continuing growth in employment, wages and consumer spending make it unlikely the effort will backfire into a major setback for the economy, National Retail Federation chief economist Jack Kleinhenz said Wednesday. “With changes underway that focus on taming inflation without splintering the
WASHINGTON – The economy’s fast-paced growth could slow somewhat as the Federal Reserve tries to bring inflation under control in the next few months, but consumers are likely to keep on shopping as lower inflation eases uncertainty, National Retail Federation chief economist Jack Kleinhenz said today. “The Fed’s tightening has kicked off a new cycle
WASHINGTON – The omicron variant, inflation and bad weather in much of the country were not enough to stop consumers from shopping in January, the National Retail Federation reported on Wednesday. Retail sales posted strong gains in January despite those and other challenges. “January’s numbers show that 2022 is starting very strong for consumers and
WASHINGTON – With the holiday season “off to a good start,” the National Retail Federation’s chief economist now expects consumer spending to exceed his October forecast, overcoming supply chain disruptions, inflation and challenges like the new COVID-19 omicron variant. “Now that we’re in December, the holiday shopping season is nearing the finish line,” said Jack
WASHINGTON – The economy’s continued growth depends on getting the pandemic under control, National Retail Federation chief economist Jack Kleinhenz pointed out on Tuesday. “We are now in the second half of 2021 and the economy has heated up along with the summer temperatures,” Kleinhenz said. “Gross domestic product surpassed its pre-crisis peak during the
WASHINGTON – The National Retail Federation today issued its annual forecast, anticipating that retail sales will grow between 6.5% and 8.2% to more than $4.33 trillion in 2021 as more individuals get vaccinated and the economy reopens. “Despite the continuing health and economic challenges COVID-19 presents, we are very optimistic that healthy consumer fundamentals, pent-up
WASHINGTON – Despite broad indications that the economy has begun to recover as businesses reopen from the coronavirus pandemic, conflicting data makes it difficult to say how steadily the comeback will continue, National Retail Federation Chief Economist Jack Kleinhenz said Monday. “Optimism about the economy and retail spending is being tested daily with the spread
WASHINGTON — The reopening of stores shuttered by the COVID-19 outbreak boosted retail sales in May, which were up dramatically compared to April, the National Retail Federation reported Tuesday. But sales were still way down from the same period last year. “Today’s sales report is very encouraging news at a time when we need to
WASHINGTON – While the reopening of businesses shut down by the coronavirus pandemic is a significant step forward, it is too soon to say how quickly or smoothly the nation’s economy will recover, National Retail Federation chief economist Jack Kleinhenz said on Monday. “Is it possible the worst of the coronavirus pandemic is behind us?
