WASHINGTON – Core retail sales as calculated by the National Retail Federation rose in July even as overall sales reported by the Census Bureau remained flat on a monthly basis, and both calculations showed strong year-over-year gains as consumers kept shopping despite high inflation, NRF said Wednesday. “Retail sales grew in July, supported by declines
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 – Retail sales slowed in May as consumers faced continuing inflation and higher prices for essentials like food and gasoline, the National Retail Federation said Wednesday. “Retail sales are reflecting Americans’ growing concern about inflation and its impact on the cost of everything from groceries to gas,” NRF president and CEO Matthew Shay said.
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 – Consumers accustomed to inflation continued to spend in April as retail sales overcame higher prices to show both monthly and year-over-year increases, the National Retail Federation said Tuesday. “April retail sales demonstrate consumer strength and willingness to spend despite persistent inflation, supply chain constraints, market volatility and global unrest,” NRF President and CEO
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 nation’s major retail container ports have begun to catch up with the backlog of cargo seen over the past several months, but could experience another surge this summer, according to the monthly Global Port Tracker report released today by the National Retail Federation and Hackett Associates. “As we entered 2022, the biggest question was when
WASHINGTON – The National Retail Federation today welcomed a federal appeals court ruling that payment processing network Pulse can sue Visa over practices it claims reduce competition over who gets to process billions of dollars in debit card transactions each year. “Visa and Mastercard have responded to efforts to bring competition to debit card processing
WASHINGTON – Top challenges have shifted from COVID-19 to inflation and the war in Ukraine, but the U.S. economy will continue to face uncertainties in the year ahead, National Retail Federation Chief Economist Jack Kleinhenz said Friday. “While the public health situation has greatly improved, the impact of the pandemic continues to spread,” Kleinhenz said.
WASHINGTON – Eighty percent of Americans plan to celebrate Easter this year and will collectively spend $20.8 billion to mark the holiday, according to a survey released Monday by the National Retail Federation and Prosper Insights & Analytics. That projected figure is down slightly from last year’s forecast of $21.6 billion. “Consumers are eager to
WASHINGTON – The National Retail Federation released Wednesday its annual list of the Top 50 Global Retailers. Conducted with Kantar, the 2022 Top 50 Global Retailers list is a compilation of the 50 most impactful international retailers based on their operations at the start of 2021. Walmart continues to be the world’s largest retailer, having
WASHINGTON – Retail sales showed a strong year-over-year gain in February, but the monthly pace slowed compared with January as inflation drove up prices and lingering effects of the COVID-19 omicron variant affected the supply chain, the National Retail Federation said Wednesday. “Retail sales data continues to show impressive consumer resilience,” NRF president and CEO
WASHINGTON – The National Retail Federation issued on Tuesday its annual forecast, anticipating that retail sales will grow between 6 and 8% to more than $4.86 trillion in 2022. The announcement was made during NRF’s annual State of Retail & the Consumer virtual event where retail industry leaders discussed the strength of the consumer economy and
WASHINGTON – The National Retail Federation on Friday welcomed final passage of legislation requiring businesses that own or operate critical infrastructure to report cyberattacks to federal authorities, saying it will help protect resources ranging from the nation’s electrical grid to the availability of essential consumer products. “We appreciate the fact that Congress has taken a
