Tag: inflation

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.

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.

Inflation and the Federal Reserve’s efforts to bring inflation under control will continue to play a major role in the economy this 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.

Consumers spent more than expected amid high inflation and interest rates during 2023, though spending is now expected to slow in 2024.

Read more here about the Credit Card Competition Act, and how it can effect both merchants and credit card companies for good and bad.

Retail sales rose in August as school shopping began, even as inflation continued and interest rates remained high, the NRF said.

Economic indicators are giving conflicting signs but the nation does not appear to be in a recession and should be headed toward a soft landing from the rampant inflation and high interest rates of the past two years

Slower-but-continued growth in gross domestic product and other economic indicators during the first quarter of NRF's Monthly Economic Review showed inflation control challenges.

With the Federal Reserve continuing to increase interest rates to fight inflation, the NRF doesn’t expect a recession but said the forecast assumes gross domestic product growth will slow from nearly 3 percent in the second half of 2022 to 1 percent in 2023.