Tag: economy
NRF Says Economy Remains Sturdy Despite Forecast for Slower Growth
Adjusted for inflation, GDP is expected to grow about 2.3 percent year over year—slower than last year’s 2.5 percent but still strong enough to sustain job growth that drives consumer spending. Consumer spending is expected to be up about 2 percent, which compares with 2.3 percent last year.
2024 Easter Spending Expected to Top $22 Billion
Consumer spending is expected to reach a total of $22.4 billion this Easter, according to the annual survey released by the NRF and Prosper Insights & Analytics.
Census Data Shows Retail Sales Bounced Back in February
The Census Bureau said overall retail sales in February were up 0.6% seasonally adjusted from January and up 1.5% unadjusted year over year.
February CNBC/NRF Retail Monitor Numbers Show Consumers Continued Spending
Retail sales continued to grow in February, building off solid gains from January, according to the CNBC/NRF Retail Monitor.
With No Sign of Recession, NRF Economist Says Labor Market and Interest Rates Will...
After a better-than-expected performance in 2023, what happens with the economy in 2024 could depend largely on the labor market and what the Federal Reserve does with interest rates.
January CNBC/NRF Retail Monitor Numbers Show a ‘Great Start to the New Year’
Retail sales showed a strong beginning for the year in January, nearly matching December’s busy holiday spending and rising significantly year over year.
2023 Holiday Sales Grew 3.8% to Record $964.4B
US Census Bureau data shows that core retail sales during the 2023 holiday season grew 3.8% over 2022 to a record $964.4 billion.
NRF Economist Says 2023’s Consumer Spending Growth is ‘Not Necessarily Sustainable’ in 2024
Consumers spent more than expected amid high inflation and interest rates during 2023, though spending is now expected to slow in 2024.
Import Cargo Enters Winter Lull as Red Sea Disruptions Continue
NRF reported that inbound cargo volume at the nation’s major container ports should gradually slow during the first quarter of 2024 before beginning to build again in the spring.
NRF Says 2023 Economy Has Seen Vigorous Growth Despite Recent Slowdown
After a year of challenges, the economy has proven to be healthy even as it continues to slow, according to National Retail Federation Chief Economist Jack Kleinhenz.